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if the confidence interval is 24.4 to 38.0 than the average is the exact middle: 31.2, and the margin of error is 6.8
The margin of error is reduced.
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No, more information is needed to determine the margin of error. For example, one may need to know the sample's mean, the sample size, and the standard deviations of the population and sample. Depending on the type of test one is performing, certain parameters need not be known. For example, the population standard deviation does not need to be known in a one sample T-test.
A t-test is a inferential statistic. Other inferential statistics are confidence interval, margin of error, and ANOVA. An inferential statistic infers something about a population. A descriptive statistic describes a population. Descriptive statistics include percentages, means, variance, and regression.
The margin of error increases as the level of confidence increases because the larger the expected proportion of intervals that will contain the parameter, the larger the margin of error.
The standard deviation is used in the numerator of the margin of error calculation. As the standard deviation increases, the margin of error increases; therefore the confidence interval width increases. So, the confidence interval gets wider.
The formula for margin of error is (Z*)*(Standard Deviation))/(sqrt(N)), so as N increases, the margin of error decreases. Here N went from 100 to 5000, so N has increased by 4900. This means the margin of error decreases. Since the confidence interval is the mean plus or minus the margin of error, a smaller margin of error means that the confidence interval is narrower.
No. The width of the confidence interval depends on the confidence level. The width of the confidence interval increases as the degree of confidence demanded from the statistical test increases.
The margin of error is dependent on the confidence interval.I'll give you examples to understand it better.We know:Confidence Interval (CI) = x(bar) ± margin of error (MOE)MOE = (z confidence)(sigma sub x bar, aka standard error of mean)When CI = 95%, MOE = (1.96)(sigma sub x bar)When CI = 90%, MOE = (1.64)(sigma sub x bar)Naturally, the margin of error will decrease as confidence level decreases.
3.92
The contribution margin ratio increases when?
Generally speaking an x% confidence interval has a margin of error of (100-x)%.
1.0966
if the confidence interval is 24.4 to 38.0 than the average is the exact middle: 31.2, and the margin of error is 6.8
The width of the confidence interval willdecrease if you decrease the confidence level,increase if you decrease the sample sizeincrease if you decrease the margin of error.
The margin of error is reduced.