A Paper Published the Results of a Poll

question 20

Essay

A paper published the results of a poll. It stated that, based on a sample of 1000 married men, 51% of married men say that they would marry the same woman again. The margin of error was given as ±3 percentage points and the confidence level was given as 95%.
What does it mean that the margin of error was ±3 percentage points?

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Definitions:

Anchoring

A cognitive bias where an individual relies too heavily on an initial piece of information (the "anchor") when making decisions.

Satisficing

A decision-making strategy that entails choosing an option that meets a minimum standard of satisfaction or acceptability, rather than pursuing the best possible outcome.

Bias

Prejudice in favor of or against one thing, person, or group compared with another, usually in a way considered to be unfair.

Anchoring And Adjustment

A cognitive bias in which an individual relies too heavily on an initial piece of information (anchor) to make subsequent judgments or decisions.