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Margin of error is a statistic used whenever a population is incompletely sampled. It describes estimated likelihood that the result of a study is close to the result had the entire population been studied. The larger the margin of error, the less confident one should be in the accuracy of the results as a representation of the entire population.
Determining the margin of error requires a random sample of a population of n and a desired confidence level. Survata specializes in providing random samples of a population with a given set of characteristics, and our prices are based on the size of this sample.
From this information, one can compute the margin of error (MOE):
Keep in mind, margin of error only accounts for the errors introduced by random sampling, and does not consider systemic errors such as survey design or other biases. For more on how to best limit these factors in your results, check out our resources section on biases.