The margin error is the amount that is added to and subtracted from a point estimate in order to create a confidence range for the population parameter.
The margin error, or error rate, in statistics refers to how inaccurate survey results utilizing random samples are. A larger statistical margin of error indicates a decreased likelihood of relying on a survey's or poll's results, indicating a decreased level of trust in the results' capacity to fairly represent a community. It is an essential tool for market research since it demonstrates the level of trust that should be placed by the researchers in survey results.
Learn more about margin error here
https://brainly.com/question/10501147
#SPJ4