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4.6 Precision and Margin of Error

Precision and Margin of Error

  • In the example, we saw the 95% confidence interval is (0.499,\ 0.901), which is quite big, and therefore is not very useful. There are measures to describe situations like these too.
  • The distance between the sample estimate and the endpoints of the confidence interval is called the margin of error (M). For a 95% confidence interval,
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