What are the factors affecting the margin of error in statistics?

What are the factors affecting the margin of error in statistics?

The margin of error is influenced by several factors, including sample size, population variability, and confidence level.

How does sample size affect the margin of error?

A larger sample size generally leads to a smaller margin of error, as it provides a more accurate representation of the population.

What role does population variability play?

Higher population variability increases the margin of error because it makes it harder to predict the population parameter accurately.

Can you explain confidence level in this context?

The confidence level indicates how certain we are that the true population parameter lies within the margin of error. A higher confidence level results in a larger margin of error.

Are there any other factors I should consider?

Yes, factors like the method of sampling and the design of the survey can also impact the margin of error.