Colorado State University Confidence Intervals and Margin of Error Discussion

Read Example 2 and explain your take away. Add additional information. Your document should include minimum 200 words plus credible references.

Example 2:

The selected poll for this example is by NPR/PBS NewsHour/Marist Poll, conducted on July 15th-17th, regarding whether respondents support raising the national minimum wage to 15 dollars an hour (PollingReport, 2020). The sample size is 1,346 adults, with a margin of error at + 3.5(PollingReport, 2020). 56% of respondents thought that a $15 minimum wage would be a good idea, 41% thought it was a bad idea, and 4% were neutral (PollingReport, 2020).

The margin of error for this particular poll means that the results that were drawn from the sample size, or the 1.346 adults, may vary 3.5 % either way, according to the confidence intervals. The true population parameter for respondents who think the higher minimum wage would be a good idea could range from 52.5%, to 59.5%, with the same applied to those who do not support the idea, and those who did not have a concrete opinion. This range of 53.5% to 59.5% is the interval that results when the estimate provided by the survey has the margin of error added or subtracted from it (K.,G., 2018). If the confidence level for the survey was 90%, then it could be reasoned that the population value is within 3.5 % of 56%, 90% of the time (Mercer, 2016_.

K., G. (2018, June 19). What is the difference between the confidence interval and margin of error? Socratic. https://socratic.org/questions/what-is-the-difference-between-the-confidence-interval-and-margin-of-error#:~:text=The%20margin%20of%20error%20is,%C2%B1%20the%20margin%20of%20error (Links to an external site.).

Mercer, A. (2016). 5 key things to know about the margin of error in election polls. Pew Research Center. https://www.pewresearch.org/fact-tank/2016/09/08/u…

PollingReport. (2020). Work. PollingReport. http://www.pollingreport.com/work.htm