Question

an organization surveyed a random sample of their employees about their new vacation policy. Out of the employees surveyed, 83% rated the vacation policy as "delightful" with a margin of error of ±2% and a confidence interval of 95%. What does the margin of error imply?

Answer 1

Margin of error implies that the number of those who rated the vacation as delightful ranges between 81% (that is, 83-2) and 85% (that is, 83+2) of the population at a 95% confidence interval.

Answer 2

Answer:

Given is:

Out of the employees surveyed, 83% rated the vacation policy as "delightful" with a margin of error of ±2% and a confidence interval of 95%.

±2% means plus 2% from 83% and minus 2% from 83%, making the interval between 81% and 85%.

In general the margin of error tells that, how many percentage points the results will differ from the real population value. A small margin of error shows trustworthy results whereas a large margin of error means the results are not accurate.

Therefore, it can be concluded, with 95% confidence, that between 81% and 85% of all employees will rate the vacation policy as "delightful."