Understanding Margin of Error in Surveys: What We Need to Know
The margin of error is a statistical measure that quantifies the potential variability or uncertainty in survey results. It indicates the range within which the true value of a population parameter is likely to fall. When conducting a survey, it is important to recognize that the responses obtained from a sample may not perfectly represent the opinions or characteristics of the entire population. The margin of error provides a way to account for this sampling variability and helps researchers understand the level of confidence they can have in the survey findings. The margin of error is typically presented as a plus or minus value, representing the range around the estimate of the population parameter. For example, if a survey reports a margin of error of plus or minus 3 percentage points for a particular question, it means that the true percentage of the population with that opinion is likely to be within 3 percentage points of the reported estimate. Therefore, if the survey results indicate that 50% of respondents agree with a statement with a margin of error of plus or minus 3 percentage points, the true percentage of the population that agrees with the statement is likely to be between 47% and 53%. This statistical concept helps researchers and policymakers interpret survey results more accurately and make informed decisions based on the level of confidence they have in the findings. It is important to note that the margin of error is influenced by factors such as the sample size, sampling method, and desired level of confidence. A larger sample size generally leads to a smaller margin of error, while a higher level of confidence requires a wider margin of error. Understanding the margin of error allows survey designers and consumers to interpret survey results with appropriate caution and consider the inherent variability in the data. By acknowledging the margin of error, stakeholders can make more informed decisions based on the survey findings and avoid drawing conclusions that may not be representative of the entire population. In the previous survey done by Capstone-Intel Corporation, such as the Survey on the Awareness of Filipinos Cryptocurrency, it was mentioned that “The sample size of 1,204 respondents ensures a high level of accuracy, with a margin of error of ±3% and a 95% confidence level.” The margin of error of ±3% at a 95% confidence level further enhances the reliability of our findings. This margin of error represents the range within which the true population parameter is likely to fall. A smaller margin of error indicates a higher level of precision, meaning that the estimated results are more likely to closely mirror the actual values of the target population. The 95% confidence level indicates that if we were to repeat the survey multiple times, 95% of the time the results would fall within the stated margin of error. This level of confidence provides a solid foundation for decision-making and ensures that the data collected is reliable and robust.
Study Finds 42% Pinoys Aware of Cryptocurrency Invested for High Returns
The emergence and growth of the cryptocurrencies market have garnered tremendous global interest and attention in recent times. Nevertheless, the degree of cognizance among the Filipino populace regarding this innovative digital currency is an area that requires further exploration. To this end, the Capstone-Intel Corporation undertook a research investigation to obtain empirical data on the extent of awareness and comprehension of cryptocurrencies within the country. Aligned with this objective, a nationwide survey was conducted by Capstone-Intel from May 1 to May 10, 2023. The study findings indicate that 1,204 participants are aware about the concept of cryptocurrency. Of this group, 42% had made investments in this emerging asset class. Of the total sample, 49.58% were male and 50.4% were female. Educational attainment was also assessed, with 58% of participants having completed a college degree, 20% being current college undergraduates, 12% having completed high school, 5% being graduates of technical-vocational programs, 3% having earned a post-graduate degree, and 2% having only completed high school. The data shows Region X and NCR take up the biggest pool of respondents, at 17% each. Region III and CALABARZON also contribute 10% each. The other 7% come from Region V, and Region XI and Region XII make up another 5%, respectively. Region I, Region VIII, and Region IX both contribute 4% to the total pool. Region II and BARMM also provide 3% each, while MIMAROPA, Region XIII, and CAR each contribute the last 2% to complete the respondent count. Investment in cryptocurrencies From the data, respondents were asked if they have invested in cryptocurrencies, and 42% of them showed that they have invested in cryptocurrencies, 57% answered no, and 2% expressed uncertainty. The investment of these respondents ranges from less than P1,000 to above P10,000. When asked about their reasons for investing in cryptocurrencies, the respondents provided a range of motivations. The most commonly cited reason was the potential for high returns on investment, with 51% of all respondents highlighting this as a primary factor. “This finding suggests that a considerable number of individuals are seeking to grow their wealth through investment vehicles. It is noteworthy that one of the primary motivations for investment was the perceived possibility of achieving substantial returns on investment. This desire for high returns can be linked to the current low-interest-rate environment, which has made traditional savings accounts and bonds less attractive to investors,” said Ella Kristina Domingo-Coronel, Research and Publications Director of Capstone-Intel. Almost half of the respondents aged 35–44 (49%), 45-54 (47%), and 25-34 (45%) have invested in cryptocurrency. 65% of those aged 18 to 24 years old and 74% of those aged 65 to 75 have not invested. Between males and females, only 35% of females have invested in cryptocurrency, and 48% among males. Among the participants who have allocated funds towards cryptocurrency, a predominant 80% have invested in Bitcoin. The subsequent ranking includes Ethereum at 41%, XRP at 24%, and Binance USD at 22%. —- To know more about the data, please click here. Capstone-Intel is a high-impact research company that uses innovative research technologies, tools, and methods to convert data and information into breakthrough insights and actionable intelligence outputs. It is committed to helping its clients solve problems, find solutions, grow markets and constituencies, build reputations, navigate risks, manage crises, and be the country’s leading private research and intelligence agency.
