lecture10ccle - C H A P T E R 4 2 S TA T 1 0 S P R I N G 2...

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C O N F I D E N C E I N T E R VA L M E C H A N I C S CHAPTER 4.2 - STAT 10 - SPRING 2015 - LEW
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G O A L S Understand when the Central Limit Theorem for sample means applies and know how to use it to find approximate probabilities for sample means. Understand how to construct , interpret, and use confidence intervals for a single population mean
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C O N F I D E N C E I N T E R VA L M E C H A N I C S Basic structure of a confidence interval and In this chapter we use a mean for our point estimate and the SE (standard error) is computed from the sample standard deviation and the sample size But what about this Z part?
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Z * I S R E L AT E D T O O U R L E V E L O F C O N F I D E N C E Take 100% - level of confidence So 99% for example, the result is 1% (later on, we will call this “alpha”) Divide that value in two, so we get .5% convert that to a proportion .005 Then look up that proportion in your normal probability table — the Z associated with it is the multiplier.
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I T I M P L I E S A Z O F ± 2 . 5 7 5 FOR 99% CONFIDENCE
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F O R 9 8 % C O N F I D E N C E F O R M U L A I M P L I E S A Z * O F ± 2 . 3 3 For 98% confidence use ± 2.33
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I T I M P L I E S A Z O F ± 1 . 9 6 FOR 95% CONFIDENCE
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I T I M P L I E S A Z O F ? ? ?
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