Retained by a Class Action Settlement Claim Processing Provider
Vega analyzed the statistically sufficient sample size to draw scientifically valid conclusions about the veracity of claims submitted in conjunction with settlements in a class action case.
The reliability or precision of a sample is measured by two statistical metrics: the confidence level and the margin of error. The confidence level is the percentage of time that the true value of a population will be within a specified range around the sample value. The margin of error defines that range.
We analyzed the required sample size for a representative, unbiased subset at a confidence level of 95% and a margin of error of ±5%, and also calculated per claimant sample sizes sufficient for calculating estimates with a ±5% margin of error at the 95% confidence level.