Explain how to calculate margin of error.
What effect does increasing your sample size have on the margin of error?
What effect does it have on the confidence level?
What effect does it have on the confidence interval?
Stats - Anonymous, Friday, March 2, 2012 at 3:51pm
Q: How to calculate Margin Of Error?
Ans: One can determine this amount by using an algebraic formula, a chart or an online calculator. The surveyor only needs three numbers: population size, sample size and standard deviation, a whole number that represents the percentage of time respondents’ answers were evenly split. Once these numbers are determined, the formula is applied and the margin of error is determined. The larger the number, the more room there is for the poll to have error. By using margin of error, readers are able to get a clearer idea of what the numbers actually mean.