market research firm upstate ny
DESCRIPTION
This is a chart explaining the trade-off between margin of error and cost of fieldwork. Research & Marketing Strategies (RMS) is a market research firm in Upstate, NY.TRANSCRIPT
100 200 300 400 500 600 700 800 900 10000%
1%
2%
3%
4%
5%
6%
7%
8%
9%
10%9.8%
6.9%
5.7%
4.9%4.4%
4.0%3.7% 3.5% 3.3% 3.1%
Margin of Error and Survey Completes
Margin of Error
Number of Completes
www.RMSresults.com
Cost for Survey Completes (Incremental Cost = $3,000) $3,000 $6,000 $9,000 $12,000 $15,000 $18,000 $21,000 $24,000 $27,000 $30,000
$1,0
34
$2,5
00
$3,7
50
$6,0
00
$7,5
00
$10,
000
$15,
000
$15,
000
Represents Incremental Cost ($3,000) Divided by Percentage
Point Reduction in Margin of Error