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Actually, the main purpose for which Mitofsky was to help the networks predict the winners of each state. They didn't want any premature calls again. As far as that goes, they were pretty successful. I think there were only one or two wrong calls by the occasional network. However, as you know, a lot of people who did not know the meaning of these raw figures called it wrongly. As they did not know the sampling procedures, they assumed that a 52% advantage to Kerry should translate into a win for Kerry, whereas of course it depends entirely on which precincts were picked. The postmortem analysis (main issues, voter concerns, etc) was a secondary aim, but as it was a money spinner it almost certainly had a bearing on the choice of methodology used.
You are right that the population polled was not a pure random sample, although they would have done their best to make it so within their budget and other practical constraints. Their basic methodology is explained on their web page, which you can find by googling Mitofsky. There are two sampling stages. First they have to take a sample of precincts: in other words, they have to decide which geographical area to choose. Because of the nature of the context, it is next to impossible to sample these randomly, and they do not say that they did. Instead they chose precincts according to a certain formula, which has not been divulged.
You are right to be suspicious of the raw figures, because without knowing how the precincts were chosen, it is not possible to ascertain what they really mean. As there are so many tiny precincts in country areas, and huge precincts in urban areas, it is often unavoidable that there is a preponderance of urban areas in the sample. This would probably lead to a over-representation of Democrat voters, which would be repeated in many different states if the same formula was used. As is explained on Mitofsky's exit poll page, this can easily be taken into account when making a prediction.
The second stage of sampling would certainly be a correct random sample of the voters in the precincts chosen. Unless there is interference with the process, there is no reason to believe that this would result in a very accurate estimate of the actual result in those precincts. One does not need a large sample to expect to come to within 0.05% . However, this would only be an estimate of the actual precincts measured, and as we don't know what precincts were chosen, we cannot yet judge how accurate the polls were. If they turn out to be more than a percentage point out: say they had Kerry at 53%, and the actual was 51.5% or something, I'd tend to think that there is something seriously wrong. (I'm only guessing here).
Anyway, we really can't do much but wait until we have more information regarding the first, non-random geographical sampling. Until then, any calculations are premature, and only serve to dilute the impact when it does come.
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