If there are more than 2 numbers use box model to Consisting of 1 & 0
example:
out of a 100000 samples
- 20% have shoes
- 50% are broke
- 40% have bad credit
- 10% are on crack
Draws =1000
Isolate the Variable it ask for into 1s & 0s
find expected value (EV) of people who have bad credit 40% or 40,000
find the SE (need SD... this is where the box model shines)
40% bad credit and the 60% good credit
SD = Square Root of (.4 x .6) = .49
SE = Square Root of (1000draws) x (.49 SD)
SE = 15