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Question 6
A data professional in the logistics industry wants to calculate the margin of error for a study about transportation route efficiency. They know the sample size and confidence level. What must they also know in order to accurately calculate margin of error?
Distribution
Testing methodology
Correlation
Population size
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GPT-5 mini
AI
Distribution
You need to know the underlying distribution (and/or the variability — population or sample standard deviation) to compute the standard error and choose the correct critical value (z vs t). Population size only matters when the sample is a large fraction of a small population (finite-population correction). Correlation and testing methodology are not required.
You need to know the underlying distribution (and/or the variability — population or sample standard deviation) to compute the standard error and choose the correct critical value (z vs t). Population size only matters when the sample is a large fraction of a small population (finite-population correction). Correlation and testing methodology are not required.
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