Determining sample size is a very important issue because samples that are too large may waste time, resources and money, while samples that are too small may lead to inaccurate results. Hence, it is required to determine the minimum recommended size of your survey. If you interview this many people you'll get results that reflect the target population as precisely as needed.
Enter Population Size
Download Sample Size Calculator Template for Excel
Sample Size Formula
n : minimum required sample size
t : confidence level at x% level of significance
p : estimate of the proportion of people falling into the group in which you are interested
m : margin of error
Margin of error
Margin of error or Confidence interval is usually reported in opinion poll results. It is a 95 percent confidence interval i.e. for every 20 times you repeat this poll, statistics say that one time you'll get an answer that is completely off the wall. For example: the poll had a margin of error of plus or minus three percentage points (3%) and 51% percent of your sample picked an answer you can be "sure" that if you had asked the question of the entire relevant population between 48% (51-3) and 54% (51+3) would have picked that answer.
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| Sample Size Calculator with Excel |
Total number of individuals about which sample size calculation is required.Enter Sample Size
Number of individuals required to respond to respond to achieve the required level of accuracy.
Download Sample Size Calculator Template for Excel
Sample Size Formula
n=
|
t² x p(1-p)
|
m²
|
t : confidence level at x% level of significance
p : estimate of the proportion of people falling into the group in which you are interested
m : margin of error
Margin of error
Margin of error or Confidence interval is usually reported in opinion poll results. It is a 95 percent confidence interval i.e. for every 20 times you repeat this poll, statistics say that one time you'll get an answer that is completely off the wall. For example: the poll had a margin of error of plus or minus three percentage points (3%) and 51% percent of your sample picked an answer you can be "sure" that if you had asked the question of the entire relevant population between 48% (51-3) and 54% (51+3) would have picked that answer.
About Author:
Deepanshu founded ListenData with a simple objective - Make analytics easy to understand and follow. He has over 10 years of experience in data science. During his tenure, he has worked with global clients in various domains like Banking, Insurance, Private Equity, Telecom and Human Resource.
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I have a mean value of a parameter and a standard deviation with a sample size of 6: if we assume a normal distribution then how do we calculate the expected mean from a ample size of 12.?
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