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What is Confidence Intervals of Interval Estimate?
An open interval centered about the point estimate, .
When you use a confidence interval to reach a conclusion about the population mean you are applying a type of reasoning or logic called?
normal distribution
What is confidence associated with an interval estimate is called the?
confidence level
What does a confidence interval for a population mean constructed from sample data show?
A confidence interval of x% is an interval such that there is an x% probability that the true population mean lies within the interval.
What does a 95 percent confidence interval tell you about the population proportion?
There is a 95% probability that the true population proportion lies within the confidence interval.
What affect does increasing the sample size have on the width of the confidence interval?
Increasing the sample size decreases the width of the confidence interval. This occurs because a larger sample provides more information about the population, leading to a more accurate estimate of the parameter. As the sample size increases, the standard error decreases, which results in a narrower interval around the sample estimate. Consequently, the confidence interval becomes more precise.
What happens to the confidence interval as the sample estimate increases?
Assuming that other measures remain the same, as the sample estimate increases both ends of the confidence interval will increase. In effect, the confidence interval will be translated to a higher value without any change in its size.Assuming that other measures remain the same, as the sample estimate increases both ends of the confidence interval will increase. In effect, the confidence interval will be translated to a higher value without any change in its size.Assuming that other measures remain the same, as the sample estimate increases both ends of the confidence interval will increase. In effect, the confidence interval will be translated to a higher value without any change in its size.Assuming that other measures remain the same, as the sample estimate increases both ends of the confidence interval will increase. In effect, the confidence interval will be translated to a higher value without any change in its size.
What percentage of time will the population proportion not be found within the confidence interval?
What percentage of times will the mean (population proportion) not be found within the confidence interval?
What difference wider confidence interval and narrow confidence interval?
A wider confidence interval indicates greater uncertainty about the estimate, suggesting that the true parameter value could lie within a broader range. This often occurs with smaller sample sizes or higher variability in the data. In contrast, a narrow confidence interval reflects greater precision and confidence in the estimate, indicating that the true parameter is likely to be closer to the estimated value. Thus, the width of the confidence interval provides insight into the reliability of the estimate.
What is the most controllable method of increasing the precision of or narrowing the confidence interval?
Confidence intervals represent an interval that is likely, at some confidence level, to contain the true population parameter of interest. Confidence interval is always qualified by a particular confidence level, expressed as a percentage. The end points of the confidence interval can also be referred to as confidence limits.
When population distribution is right skewed is the interval still valid?
You probably mean the confidence interval. When you construct a confidence interval it has a percentage coverage that is based on assumptions about the population distribution. If the population distribution is skewed there is reason to believe that (a) the statistics upon which the interval are based (namely the mean and standard deviation) might well be biased, and (b) the confidence interval will not accurately cover the population value as accurately or symmetrically as expected.
Will The finite population correction factor lead to a wider confidence interval?
No since it is used to reduce the variance of an estimate in the case that the population is finite and we use a simple random sample.
