What is margin of error?
An example of an AI chatbot conversation about margin of error in statistics.
What is margin of error?
The margin of error is a statistic that expresses the amount of random sampling error in a survey's results.
How is it calculated?
It's typically calculated using the formula: Margin of Error = Z * (σ/√n), where Z is the Z-score, σ is the standard deviation, and n is the sample size.
What does a larger margin of error indicate?
A larger margin of error indicates less confidence in the accuracy of the survey results, meaning the results could vary more widely.
Can you give an example?
Sure! If a poll shows 60% support for a candidate with a margin of error of ±3%, the true support could be between 57% and 63%.
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