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Statistics: Informed Decisions Using Data | 5th Edition | ISBN: 9780134133539 | Authors: Michael Sullivan III ISBN: 9780134133539 240

Solution for problem 5 Chapter 6.2

Statistics: Informed Decisions Using Data | 5th Edition

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Statistics: Informed Decisions Using Data | 5th Edition | ISBN: 9780134133539 | Authors: Michael Sullivan III

Statistics: Informed Decisions Using Data | 5th Edition

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Problem 5

The expected number of successes in a binomial experiment with n trials and probability of success p is_______.

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Lecture 3.2 Understanding and Interpreting Confidence Intervals Interval Estimate An interval estimate gives a range of plausible values for a population parameter. Margin of error One common form for an interval estimate is statistic + margin of error where the margin of error reflects the precision of the sample statistic as a point estimate for the parameter. ● How do we determine the margin of error ● We can use the spread of the sampling distribution (the standard of error) to determine the margin of error for a statistic. Confidence Interval A confidence interval for a parameter is an interval computed from sample data by a method that will capture the parameter for a specified proportion of all samples. ● The success rate (proportion of all samples whose intervals contain the parameter) is known as the confidence level. ● A 95% confidence interval will contain the true parameter for 95% of all samples. Summary: ● To create a 95% confidence interval for a parameter: ○ Take many random samples from the population and compute the sample statistic for each sample ○ Compute the standard error as the standard deviation of all these statistics. ○ Use statistic + 2 x SE Lecture 3.2 Understanding and Interpreting Confidence Intervals Interval Estimate An interval estimate gives a range of plausible values for a population parameter. Margin of error One common form for an interval estimate is statistic + margin of error where the margin of e

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Chapter 6.2, Problem 5 is Solved
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Textbook: Statistics: Informed Decisions Using Data
Edition: 5
Author: Michael Sullivan III
ISBN: 9780134133539

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