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Margin Of Error
The margin of error is a statistic expressing the amount of random sampling error in the results of a survey. The larger the margin of error, the less confidence one should have that a poll result would reflect the result of a census of the entire population. The margin of error will be positive whenever a population is incompletely sampled and the outcome measure has positive variance, which is to say, the measure ''varies''. The term ''margin of error'' is often used in non-survey contexts to indicate observational error in reporting measured quantities. Concept Consider a simple ''yes/no'' poll P as a sample of n respondents drawn from a population N \text(n \ll N) reporting the percentage p of ''yes'' responses. We would like to know how close p is to the true result of a survey of the entire population N, without having to conduct one. If, hypothetically, we were to conduct poll P over subsequent samples of n respondents (newly drawn from N), we would expect those subs ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Margin Of Error Vs Sample Size And Confidence Level
Margin may refer to: Physical or graphical edges *Margin (typography), the white space that surrounds the content of a page *Continental margin, the zone of the ocean floor that separates the thin oceanic crust from thick continental crust *Leaf margin, the edge of a leaf *Resection margin, the tissue near a tumor that is removed to ensure that no cancer cells are left behind Economics and finance *Margin of profit, the fraction of revenue that is left after paying expenses *Margin (economics), a set of constraints conceptualised as a border *Margin (finance), a type of financial collateral used to cover credit risk * ''Margin'' (journal), an economics journal *Contribution margin *Gross margin Figurative edges *Margin (machine learning), the distance between a decision boundary and a data point *Marginal frequency distribution, in statistics ( Frequency distribution § Joint frequency distributions) Other uses * ''Margins'' (film), a 2022 Italian film by Niccolò Falsetti * '' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Measurement
Measurement is the quantification of attributes of an object or event, which can be used to compare with other objects or events. In other words, measurement is a process of determining how large or small a physical quantity is as compared to a basic reference quantity of the same kind. The scope and application of measurement are dependent on the context and discipline. In natural sciences and engineering, measurements do not apply to nominal properties of objects or events, which is consistent with the guidelines of the ''International vocabulary of metrology'' published by the International Bureau of Weights and Measures. However, in other fields such as statistics as well as the social and behavioural sciences, measurements can have multiple levels, which would include nominal, ordinal, interval and ratio scales. Measurement is a cornerstone of trade, science, technology and quantitative research in many disciplines. Historically, many measurement systems existed fo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Error
An error (from the Latin ''error'', meaning "wandering") is an action which is inaccurate or incorrect. In some usages, an error is synonymous with a mistake. The etymology derives from the Latin term 'errare', meaning 'to stray'. In statistics, "error" refers to the difference between the value which has been computed and the correct value. An error could result in failure or in a deviation from the intended performance or behavior. Human behavior One reference differentiates between "error" and "mistake" as follows: In human behavior the norms or expectations for behavior or its consequences can be derived from the intention of the actor or from the expectations of other individuals or from a social grouping or from social norms. (See deviance.) Gaffes and faux pas can be labels for certain instances of this kind of error. More serious departures from social norms carry labels such as misbehavior and labels from the legal system, such as misdemeanor and crime. Departures ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Random Error
Observational error (or measurement error) is the difference between a measured value of a quantity and its true value.Dodge, Y. (2003) ''The Oxford Dictionary of Statistical Terms'', OUP. In statistics, an error is not necessarily a " mistake". Variability is an inherent part of the results of measurements and of the measurement process. Measurement errors can be divided into two components: ''random'' and ''systematic''. Random errors are errors in measurement that lead to measurable values being inconsistent when repeated measurements of a constant attribute or quantity are taken. Systematic errors are errors that are not determined by chance but are introduced by repeatable processes inherent to the system. Systematic error may also refer to an error with a non-zero mean, the effect of which is not reduced when observations are averaged. Measurement errors can be summarized in terms of accuracy and precision. Measurement error should not be confused with measurement uncer ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Measurement Uncertainty
In metrology, measurement uncertainty is the expression of the statistical dispersion of the values attributed to a measured quantity. All measurements are subject to uncertainty and a measurement result is complete only when it is accompanied by a statement of the associated uncertainty, such as the standard deviation. By international agreement, this uncertainty has a probabilistic basis and reflects incomplete knowledge of the quantity value. It is a non-negative parameter. The measurement uncertainty is often taken as the standard deviation of a state-of-knowledge probability distribution over the possible values that could be attributed to a measured quantity. Relative uncertainty is the measurement uncertainty relative to the magnitude of a particular single choice for the value for the measured quantity, when this choice is nonzero. This particular single choice is usually called the measured value, which may be optimal in some well-defined sense (e.g., a mean, median, or m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Key Relevance
In master locksmithing, key relevance is the measurable difference between an original key and a copy made of that key, either from a wax impression or directly from the original, and how similar the two keys are in size and shape. It can also refer to the measurable difference between a key and the size required to fit and operate the keyway of its paired lock. No two copies of keys are exactly the same, even if they were both made from key blanks that are struck from the same mould or cut from the same duplicating/milling machine with no changes to the bitting settings in between. Even under these favorable circumstances, there will be minute differences between the two key shapes, though their key relevance is extremely high. In all machining work, there are measurable amounts of difference between the design specification of an object, and its actual manufactured size. In locksmithing, the allowable tolerance is decided by the range of minute differences between a key's siz ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Engineering Tolerance
Engineering tolerance is the permissible limit or limits of variation in: # a physical dimension; # a measured value or physical property of a material, manufactured object, system, or service; # other measured values (such as temperature, humidity, etc.); # in engineering and safety, a physical distance or space (tolerance), as in a truck (lorry), train or boat under a bridge as well as a train in a tunnel (see structure gauge and loading gauge); # in mechanical engineering, the space between a bolt and a nut or a hole, etc. Dimensions, properties, or conditions may have some variation without significantly affecting functioning of systems, machines, structures, etc. A variation beyond the tolerance (for example, a temperature that is too hot or too cold) is said to be noncompliant, rejected, or exceeding the tolerance. Considerations when setting tolerances A primary concern is to determine how wide the tolerances may be without affecting other factors or the outcome of a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Finite Population Correction
The standard error (SE) of a statistic (usually an estimate of a parameter) is the standard deviation of its sampling distribution or an estimate of that standard deviation. If the statistic is the sample mean, it is called the standard error of the mean (SEM). The sampling distribution of a mean is generated by repeated sampling from the same population and recording of the sample means obtained. This forms a distribution of different means, and this distribution has its own mean and variance. Mathematically, the variance of the sampling mean distribution obtained is equal to the variance of the population divided by the sample size. This is because as the sample size increases, sample means cluster more closely around the population mean. Therefore, the relationship between the standard error of the mean and the standard deviation is such that, for a given sample size, the standard error of the mean equals the standard deviation divided by the square root of the sample size. I ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sampling Fraction
In sampling theory, the sampling fraction is the ratio of sample size to population size or, in the context of stratified sampling, the ratio of the sample size to the size of the stratum. The formula for the sampling fraction is :f=\frac, where ''n'' is the sample size and ''N'' is the population size. A sampling fraction value close to 1 will occur if the sample size is relatively close to the population size. When sampling from a finite population without replacement, this may cause dependence between individual samples. To correct for this dependence when calculating the sample variance, a finite population correction The standard error (SE) of a statistic (usually an estimate of a parameter) is the standard deviation of its sampling distribution or an estimate of that standard deviation. If the statistic is the sample mean, it is called the standard error o ... (or finite population multiplier) of (N-n)/(N-1) may be used. If the sampling fraction is small, less than 0.05 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sampling (statistics)
In statistics, quality assurance, and survey methodology, sampling is the selection of a subset (a statistical sample) of individuals from within a statistical population to estimate characteristics of the whole population. Statisticians attempt to collect samples that are representative of the population in question. Sampling has lower costs and faster data collection than measuring the entire population and can provide insights in cases where it is infeasible to measure an entire population. Each observation measures one or more properties (such as weight, location, colour or mass) of independent objects or individuals. In survey sampling, weights can be applied to the data to adjust for the sample design, particularly in stratified sampling. Results from probability theory and statistical theory are employed to guide the practice. In business and medical research, sampling is widely used for gathering information about a population. Acceptance sampling is used to determine if ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Covariance
In probability theory and statistics, covariance is a measure of the joint variability of two random variables. If the greater values of one variable mainly correspond with the greater values of the other variable, and the same holds for the lesser values (that is, the variables tend to show similar behavior), the covariance is positive. In the opposite case, when the greater values of one variable mainly correspond to the lesser values of the other, (that is, the variables tend to show opposite behavior), the covariance is negative. The sign of the covariance therefore shows the tendency in the linear relationship between the variables. The magnitude of the covariance is not easy to interpret because it is not normalized and hence depends on the magnitudes of the variables. The normalized version of the covariance, the correlation coefficient, however, shows by its magnitude the strength of the linear relation. A distinction must be made between (1) the covariance of two random ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
