Man wants to run for election wants to know the chances of him winning
SD of Box can be used using the SD Shortcut Method
SD = Square Root (Fraction 1 x Fraction 2)
Example:
- #Draws =2500
- 1328 favored candidate
- Ave = .53
- Ave not in Favor = .47
- SD = SQRT(.53 x .47) = about .50
- SE = (SQRT[2500] x SD) = 50 x .5 = 25
- Chance error is 25 out of 2500
- that is less than (25/2500) = 1%
He should run for election