Description
Answering the following including formula references. APA not needed.
- Explain what a confidence interval is, and what is the confidence level?
- Explain in what situations you can use the z statistic to construct a confidence interval for the mean of a population?
- Explain what is the test statistic used for constructing confidence interval on a proportion.
- Explain why and when t statistic is used in constructing a confidence interval for the mean of a population.
Explanation & Answer
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Running head: CONFIDENCE INTERVALS AND CONFIDENCE LEVEL
Confidence Intervals and Confidence Level
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CONFIDENCE INTERVALS AND CONFIDENCE LEVEL
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Confidence Intervals and Confidence Level
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Explain what a confidence interval is, and what is the confidence level?
In statistics, the confidence interval is an estimate that shows a range of values that are fairly sure
that a true statistic lies. Most commonly, a confidence interval in statistics is used alongside the
calculated mean and it shows the range of plausible values which the true mean is expected to be
between. In simple terms, the latter estimate is, on most occasions, calculated using the margin
error. It is given by either adding it or subtracting it from the calculated statistic to provide an
estimated range in which the true statistic is expected to lie. On the other hand, the confidence
level is the probability that a given parameter falls within a given range of values. Further, the
confidence level can also be...
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