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Chapter 8 Notes (2)

Chapter 8 Notes (2) - is an interval containing the most...

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Unformatted text preview: is an interval containing the most believable values for a parameter. The probability that this method produces an interval that contains the parameter is called the confidence level. This is a number chosen to be close to 1, most commonly 0.95. Palm estimate —r—\‘s—+——- (-———> Confidence interval The‘ measures how accurate the piont estimate is likely to be in estimating a. parameter. It is a multiple of the standard error of the sampling distribution of the estimate, such as z(se). ME ME (——|—-} —i—i—]—-—— ME - margin of error Therefore, the confidence interval is of the form [point estimate :l: margin of error]. In this section, we learn how to construct a confidence interval for a population proportion. The procedure used is as given below. e \— ue Hz dependsonteh confidence level of interest. For the commonly used confidence levels 95%, 90%, and 99%, the value of 2 equals 1.96, 1.65 and 2.58 respectively. The margin of error is given by me = 2(56). For the above confidence interval to be valid, it is required that both 7113 and n(1 — 13) are at least 15. r“ A survey found that 89% of a random sample of 1024 American adults approved of cloning endangered animals. Find the margin of error and the confidence interval for this survey if we want 90% confidence in our estimate of the percentage of American adults who approve of cloning endangered animals. ...
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