Margin of Error

Front

What is the margin of error?

Back

The margin of error is a statistic that expresses the amount of random sampling error in a survey's results. It indicates the range within which the true value in the population is likely to fall.

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How can we reduce the margin of error in a survey?

Back

By increasing the sample size, which leads to more accurate estimates of the population parameters.

Front

If a survey reports a result of 57% with a margin of error of 7%, what is the range of values for the true percentage?

Back

The true percentage is likely between 50% and 64% (57% ± 7%).

Front

What does a margin of error of ±5.8% indicate?

Back

It indicates that the true value in the population could be 5.8% higher or lower than the reported statistic.

Front

What is the relationship between sample size and margin of error?

Back

As the sample size increases, the margin of error decreases, leading to more precise estimates.

Front

In a survey of 400 adults, if 89% pay their bills on time with a margin of error of 2%, what is the confidence interval?

Back

The confidence interval is 87% to 91%.

Front

What is a statistic?

Back

A statistic is a numerical value that describes a characteristic of a sample.

Front

What is the difference between a sample and a population?

Back

A sample is a subset of individuals selected from a larger population, which is the entire group of interest.

Front

How does randomness affect the margin of error?

Back

Increasing randomness in sample selection can lead to a more representative sample, potentially reducing the margin of error.

Front

What is the formula for calculating margin of error?

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Margin of Error = Critical Value * Standard Error.