The width of the confidence interval willdecrease if you decrease the confidence level,increase if you decrease the sample sizeincrease if you decrease the margin of error.
Generally speaking an x% confidence interval has a margin of error of (100-x)%.
The standard deviation is used in the numerator of the margin of error calculation. As the standard deviation increases, the margin of error increases; therefore the confidence interval width increases. So, the confidence interval gets wider.
No. The width of the confidence interval depends on the confidence level. The width of the confidence interval increases as the degree of confidence demanded from the statistical test increases.
The confidence interval consists of a central value and a margin of error around that value. If it is an X% confidence interval then there is a X% probability that the true value of the statistic in question lies inside the interval. Another way of looking at it is that if you took repeated samples and calculated the test statistic each time, you should expect X% of the test statistics to fall within the confidence interval.
if the confidence interval is 24.4 to 38.0 than the average is the exact middle: 31.2, and the margin of error is 6.8
The formula for margin of error is (Z*)*(Standard Deviation))/(sqrt(N)), so as N increases, the margin of error decreases. Here N went from 100 to 5000, so N has increased by 4900. This means the margin of error decreases. Since the confidence interval is the mean plus or minus the margin of error, a smaller margin of error means that the confidence interval is narrower.
Confidence IntervalsConfidence interval (CI) is a parameter with a degree of confidence. Thus, 95 % CI means parameter with 95 % of confidence level. The most commonly used is 95 % confidence interval.Confidence intervals for means and proportions are calculated as follows:point estimate ± margin of error.
The margin of error is dependent on the confidence interval.I'll give you examples to understand it better.We know:Confidence Interval (CI) = x(bar) ± margin of error (MOE)MOE = (z confidence)(sigma sub x bar, aka standard error of mean)When CI = 95%, MOE = (1.96)(sigma sub x bar)When CI = 90%, MOE = (1.64)(sigma sub x bar)Naturally, the margin of error will decrease as confidence level decreases.
The confidence interval radius determines the margin of error. If you want more information visit: http://en.wikipedia.org/wiki/Margin_of_error
It depends on whether it is the Type I Error or the Type II Error that is increased.
When margin is increased, the area for text might increase or decrease. It depends on margin area.
The mean plus or minus 2.576 (4/sqr.rt. 36)= 1.72 So take your average plus or minus 1.72 to get your confidence interval
The smaller the confidence interval, the more certain you are of the answers. Remember confidence level and confidence interval (margin of error) are 2 separate things. So if you are using an industry standard confidence level of 95% and 5% margin of error in a standard statistical table, then you could say, for example, with 95% certainty that 60% of those polled would vote for John McCain. Another way of saying this is even though you did not poll everyone (if you did, it would then become a very expensive census), you can say with a high degree of certainty (95% certainty) that 55% to 65% of those polled will vote for Johnny (sadly).
A simple answer - expenses increased somewhere within the business. If sales increase, then so should the profit margin theoretically. If the profit margin decreases, then expenses increased.
You can't. You need an estimate of p (p-hat) q-hat = 1 - p-hat variance = square of std dev sample size n= p-hat * q-hat/variance yes you can- it would be the confidence interval X standard deviation / margin of error then square the whole thing
All things being equal, a wider confidence interval (CI) implies a higher confidence. The higher confidence you want, the wider the CI gets. The lower confidence you want, the narrower the CI gets The point estimate will be the same, just the margin of error value changes based on the confidence you want. The formula for the CI is your point estimate +/- E or margin of error. The "E" formula contains a value for the confidence and the higher the confidence, the larger the value hence the wider the spread. In talking about the width of the CI, it is not correct to say more or less precise. You would state something like I am 95% confident that the CI contains the true value of the mean.
The margin of error increases as the level of confidence increases because the larger the expected proportion of intervals that will contain the parameter, the larger the margin of error.
From what I can understand, the difference is a technical one: the average person might equate one with the other.A confidence interval is defined to be an interval where you are x% sure that your true value lies.So if I estimated your weight was... 250 lbs (~113 kg or ~18 stone) but said that my confidence interval was 99% for the range of 50 lbs - 500 lbs, that could be true (but worthless).You can see how problems could arise: the larger the interval (range of values), the higher confidence I can have that the true answer is somewhere in there.But the larger my range of values, the less accurate it is as a whole - as in my earlier example, if I estimated your weight to be between 50 - 500 lbs, it would be technically correct, but useless if we were trying to figure out how many people we were trying to fit on say, the last helicopter out of Saigon.A margin of error, statistically speaking, (MoE) is simply defined (as far as I can tell) as a confidence interval of 95%.Notes:A margin of error shrinks as the sample size grows. A good way of estimating a margin of error is the expression (0.98)/(sqrt(n)), where n is the size of the sample in question.You may note that many polls in the news have a margin of error of 3.1% - this is due to the fact that many polls use 1,000 people for a nice 'round' number.A margin of error is unavoidable and ONLY REFLECTS THE SIZE OF THE SAMPLE.It does not, I repeat, not indicate any mistakes in the way the survey is carried out. A sample of 2,000,000 Adolf Hitlers would have a MoE of only 0.06% but might indicate that the continent of Europe believes in the therapeutic power of racial cleansing.Final note:Different people may use the term 'margin of error' slightly differently. Clarify, clarify, clarify!
If there is only increase in selling price per unit without the change in the cost of the product then contribution margin per unit will also increase but if cost per unit is more increase then increase in selling price per unit then contribution margin per unit will decrease.
Increase in selling price reduces the breakeven point because due to increase in price contribution margin ratio also increases.
The margin of error is reduced.
When contribution margin rises it reduces the break even point because due to increase in contribution margin less number of units requires to manufacture to recover the fixed cost and it also increases the profit as well.