Question

Discuss the relationship between sampling error, margin of error and the standard error of the mean.

Answer 1

Solution :-

A margin of error tells you how many percentage points your results will differ from the real population value

The margin of error can be calculated in two ways,

depending on whether you have parameters from a population or statistics from a sample:

Margin of error = Critical value x Standard deviation for the population.

Margin of error = Critical value x Standard error of the sample.

---------------------------------------------------------------------------------------------------------------------------------------------------------------

A sampling error is a statistical error that occurs when an analyst does not select a sample that represents the entire population of data and the results found in the sample do not represent the results that would be obtained from the entire population

Sampling error is one of two reasons for the difference between an estimate and the true, but unknown, value of the population parameter. ...

The sampling error for a given sample is unknown but when the sampling is random, the maximum likely size of the sampling error is called the margin of error.