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A margin of error tells us how often the confidence interval estimates the parameter incorrectly. how often a confidence interval is correct. how accurate the statistic is when using it to estimate the parameter.

Sagot :

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Answer:

how accurate the statistic is when using it to estimate the parameter.

Step-by-step explanation:

The margin of error may be referred to as a range or interval around a calculated statistic. The margin of error usually employed when calculating the confidence interval, will give a certain range of value within the sample statistic. This is sample statistic and margin is used to estimate the parameter albeit a certain percentage or proportion within the sample statistic. This provides the accuracy level at which the statistic will estimate the parameter.

Margin of Error :

Margin of Error = Zcritical * σ/√n ; OR

Margin of Error = Tcritical * s/√n

Where ;

σ = population standard deviation

s = sample standard deviation

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