Estimations with Confidence-ECO6416

Estimations with Confidence-ECO6416 - Estimations with...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Estimations with Confidence In practice, a confidence interval is used to express the uncertainty in a quantity being estimated. There is uncertainty because inferences are based on a random sample of finite size from the entire population or process of interest. To judge the statistical procedure we can ask what would happen if we were to repeat the same study, over and over, getting different data (and thus different confidence intervals) each time. In most studies, investigators are usually interested in determining the size of difference of a measured outcome between groups, rather than a simple indication of whether or not it is statistically significant. Confidence intervals present a range of values, on the basis of the sample data, in which the value of such a difference may lie. Know that a confidence interval computed from one sample will be different from a confidence interval computed from another sample. Understand the relationship between sample size and width of confidence interval, moreover,
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 10/04/2011 for the course ECO 6416 taught by Professor Staff during the Spring '08 term at University of Central Florida.

Page1 / 2

Estimations with Confidence-ECO6416 - Estimations with...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online