What are some common sample size formulas used in statistics?
Common sample size formulas include the Cochran's formula, the formula for estimating proportions, and the t-test formula.
Can you explain Cochran's formula in detail?
Sure! Cochran's formula is used to determine the sample size needed for a survey. It is given by n = (Z^2 * p * (1-p)) / e^2, where Z is the Z-value, p is the estimated proportion, and e is the margin of error.
What is the significance of the margin of error in these formulas?
The margin of error indicates the range within which the true population parameter is expected to fall. A smaller margin of error requires a larger sample size.
Are there any online calculators for sample size determination?
Yes, there are many online calculators available that can help you determine the sample size based on your specific parameters.
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