Using the Formula n=1/(ME)2 to Determine Sample Size When we want 95% confidence and use the conservative estimate of p=0.5, we can use the simple formula n=1M⁢E2 to roughly determine the sample size needed for a given margin of error M⁢E. Use this formula to determine the sample size needed for a margin of error of 0.005.

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Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.