Margin of Error Calculator is a free online tool that displays the error percentages which differ from the original population value. CoolGyan online margin of error calculator tool makes the calculation faster, and it displays the error percentage in a fraction of seconds.
How to Use the Margin of Error Calculator?
The procedure to use the margin of error calculator is as follows:
Step 1: Enter the sample size, population size, and the probability in the respective input field
Step 2: Now click the button ”Calculate Margin of Error” to get the result
Step 3: Finally, the margin of error will be displayed in the output field
What is Meant by Margin of Error?
In Statistics, the margin of error is used to determine the percentage value, which actually differs from the original population. It shows the reliability of an experiment. When a survey uses the sample population from the whole population, the result will be generalised to the whole population.
Also, read: Population and Sample.
The margin of error helps to draw the conclusion about the data. It is noted that the margin of error is usually prepared for one of the three confidence levels, such as 95%, 99% and 100%. Out of these, 95% is the most commonly used confidence level.