N/APosted on - 06/09/2020
I have recently started preparing for competitive exams. As of now, I am focusing on simple problems which are easy to solve. I came across a question that I don’t know how to solve. Here is the question. ‘If the critical value is 1.532 and Standard Deviation is 0.5. Calculate the margin of error.’ Please do help me in solving the problem.
Calculate Margin of Error.
As you have said, this question is for beginners. It would have taken a long time to solve this question, if the critical value would not have been given.
The formula for calculating the Margin of Error is as follows:
The margin of Error = Critical Value x Standard Deviation
Here, Critical Value = 1.532 and Standard Deviation = 0.5.
Therefore, Margin of Error = 1.532 x 0.5
Margin of Error = 0.766