A margin of error tells us how often the confidence interval estimates the parameter incorrectly. how often a confidence interval is correct

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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.

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Euphemia 1 year 2021-08-06T15:01:24+00:00 1 Answers 51 views 0

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    2021-08-06T15:02:42+00:00

    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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