RESEARCH METHODOLOGY

Detailed explanation-1: -For example, a survey may have a margin of error of plus or minus 3 percent at a 95 percent level of confidence. These terms simply mean that if the survey were conducted 100 times, the data would be within a certain number of percentage points above or below the percentage reported in 95 of the 100 surveys.

Detailed explanation-2: -The formula for the margin of error is calculated by multiplying a critical factor (for a certain confidence level) with the population standard deviation. Then the result is divided by the square root of the number of observations in the sample.