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MATH 534 Week 4 Discussion; Confidence Intervals in Business (Keller)
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Confidenceintervalsrepresenttherangeofuncertaintyassociatedwiththeestimation of a statistic (mean, proportion, or standard deviation, etc.). There is always a risk ofsampling error associated with an estimate. Confidence intervals are useful forestablishing bounds for estimating, in particular, the mean or standard deviation, butalso regression coefficients, proportions, frequency rates, and differences betweenpopulations. Also, a 95% confidence interval indicates that for 19 out of 20 samplestakenfromthesamepopulation,theseintervalswillcontaintheparameterstudied,withamarginoferrorof5%.
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Institution
Devry University
Course
MATH 534 (MATH534)
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- Institution
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Devry University
- Course
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MATH 534 (MATH534)
Document information
- Uploaded on
- February 3, 2023
- Number of pages
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- Written in
- 2022/2023
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- math 534 discussion
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math 534 week 4 discussion
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