If p is to be estimated to within 01 with 96 condence

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Unformatted text preview: f the Chebychev inequality states that the probability that a random variable 1 differs from its mean by a or more standard deviations is less than or equal to a2 . Confidence Intervals The Chebychev inequality can be used to provide confidence intervals on estimators. Confidence intervals are often given when some percentages are estimated based on samples from a large population. For example, an opinion poll report might state that, based on a survey of some voters, 64% favor a certain proposal, with polling accuracy ±5%. In this case, we would call [59%, 69%] the confidence interval. Also, although it is not always made explicit, there is usually a level of confidence associated with the confidence interval. For example, a 95% confidence in a confidence interval means the probability the true percentage is in the interval is at least 95%. In practice, the true fraction of voters that favor a certain proposition might be a given number, say p. In order to estimate p we could selec...
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This note was uploaded on 02/09/2014 for the course ISYE 2027 taught by Professor Zahrn during the Spring '08 term at Georgia Institute of Technology.

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