Confidence Intervals

Question 1

what are confidence intervals?

Answer 1

a type of probability statistic that specifies a range of values within which we estimate that a population parameter will fall

Question 2

what is an interval estimate?

Answer 2

range of values within which the population parameter is going to fall

Question 3

what is a point estimate?

Answer 3

single statistic parameter (the best estimate

Question 4

which type of estimate is more likely to have less accuracy and more sampling error?

Answer 4

point estimates

Question 5

what is a sampling error?

Answer 5

difference between parameter and statistic

Question 6

what is the critical value at 90%z?

Answer 6

1.65

Question 7

what is the critical value at 95%z?

Answer 7

1.96

Question 8

what is the critical value at 99%z?

Answer 8

2.58

Question 9

what is a confidence level?

Answer 9

specifies the probability that the population parameter will lie within a specified range of values

Question 10

what is the effect on the confidence interval by changing your confidence level?

Answer 10

higher confidence level = wider CI

Question 11

what is the effect on the confidence interval by changing your sample size?

Answer 11

larger sample size = narrower CI