Confidence Intervals

Question 1

what is a confidance internval

Answer 1

a confidance internval is a range of values derived form a sample of data which is likley to contain the true popultion mean

Question 2

what is the general format of a CI

Answer 2

Point estimate +/- critical value * standard error (point estimate could be somthing like the mean)

Question 3

what is a point estimate

Answer 3

a single value (point) which is used to estimate an unknown popultion parameter based on sample data such as a mean

Question 4

critical value what is it?

Answer 4

essentially, this controls the width of the interval so that the interval actually does contain the true parameter as often as we claim that it does.

Question 5

what is a 95% CI

Answer 5

will have a 0.05 significance level, and represents the middle 95% of the sampling distribution if it was centerend on the sample mean