Front

What is the Margin of Error (MOE)?

Back

The Margin of Error (MOE) is a statistic that expresses the amount of random sampling error in a survey's results. It indicates the range within which the true population parameter is expected to lie, given a certain level of confidence.

Front

How is the Margin of Error calculated for a confidence interval?

Back

The Margin of Error is calculated using the formula: MOE = Z * (σ/√n), where Z is the Z-score corresponding to the desired confidence level, σ is the population standard deviation, and n is the sample size.

Front

What does a 95% confidence interval mean?

Back

A 95% confidence interval means that if we were to take many samples and build a confidence interval from each sample, approximately 95% of those intervals would contain the true population mean.

Front

What is the relationship between sample size and Margin of Error?

Back

As the sample size increases, the Margin of Error decreases. This is because a larger sample size provides more information about the population, leading to a more precise estimate.

Front

What is the effect of a larger population standard deviation on the Margin of Error?

Back

A larger population standard deviation results in a larger Margin of Error, indicating more variability in the data and less precision in estimating the population parameter.

Front

What is a confidence level?

Back

A confidence level is the probability that the confidence interval will contain the true population parameter. Common confidence levels are 90%, 95%, and 99%.

Front

How does the sample mean affect the confidence interval?

Back

The sample mean is the center of the confidence interval. The interval is constructed around the sample mean, extending outwards by the Margin of Error.

Front

What is the formula for a confidence interval?

Back

The formula for a confidence interval is: CI = (sample mean - MOE, sample mean + MOE).

Front

What is the significance of rounding in statistical calculations?

Back

Rounding in statistical calculations is important to maintain precision and accuracy. It ensures that results are presented in a clear and understandable format.

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 includes all individuals of interest. Samples are used to make inferences about the population.