In statistics the confidence of interval and margin of error are very important aspects of making inferences. They can be used in real scenarios to deduce the implication of a research study based on the variables that are being investigated. If we take the case of the election poll between Bob and Vincent, the statistics can be used to make an estimate of the numbers pertaining to the information from the entire population. A statistical tie in this case is used to make an implication of data that has been collected from a sample population in the country. It is imperative to note that it is not possible for the media to give the correct estimate of the results because the data has been generalized from a sample of the population.
Confidence interval refers to the range of the estimates around the sample mean of the population’s preferences whereas the margin of error represents the sampling error that has been recorded at the specific confidence interval. This is normally represented as plus or minus a figure based on the interval that has been provided. These are very important statistical inferences because they help researchers to make deductions on the subject of study. In the long run, this tool is very critical because it provides an estimate of the public opinion or ay other aspect based on the sample population under study.
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Estimate ± the margin of error.
