Cred Interview Question | Relation
Question
What is the relationship between sample size and margin of error? What do they represent?
solved
0
Statistics
55 years
3 Answers
2309 views
Great Grand Master 1
Answers ( 3 )
The Sample and the margin of error has inverse relationship i.e, when the sample size increases, the margin of error decreases.
The margin of error tells you the range of values above and below a confidence interval.
As the sample size goes on increasing , the margin of error goes on decreasing.
The margin of error represents how much your sample statistics are going to deviate from
actual population.
So, as the sample size gets closer to actual population, you are gonna have sample statistics which
are closer to the population and hence, lesser margin of error.
As the sample size increases, the margin of error decreases.
Margin of error tells us how much deviation from population