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Margin of error
- Definition from Wikipedia
Margin of error
The margin of error is a statistic used in constructing confidence intervals that expresses the amount of random sampling error in a study`s results. The larger the margin of error, the less faith one should have that the results are close to the "true" parameters; that is, the figures for the whole population.
Here is the formula to find a margin of error:
(z* is the critical value (from a table) pertaining to whichever chosen confidence interval, sigma is the population standard deviation and n is the sample size.)
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