U4L6

Question 1

population vs sample

Answer 1

Population vs sample

Population - use the mean (μ) and standard deviation (σ) to calculate the z score.
z = x - μ
σ

Sample - we use stats to estimate the mean (x bar) and standard deviation (s)

Question 2

confidence intervals

Answer 2

Confidence interval - produces confidence interval which is a range of values centered on the sample mean (x bar) and has a specific probability of including the population mean.

Calculating confidence intervals

Significance level “a”
Confidence level = 1 - significance level
a = 1 - confidence level

Question 3

margin of error

Answer 3

Margin of error - half the width of the confidence interval

z = σ/√n