Confidence Interval introduction-Basics

Front

What is a Confidence Interval?

Back

A range of values used to estimate the true value of a population parameter, indicating the degree of uncertainty around the estimate.

Front

What does Margin of Error represent in a confidence interval?

Back

The amount added and subtracted to the statistic to create the confidence interval, reflecting the precision of the estimate.

Front

What is a Point Estimator?

Back

A statistic that provides a single value estimate of a population parameter.

Front

How do you interpret a 90% confidence interval?

Back

We are 90% confident that the true population parameter lies within the interval.

Front

What happens to the confidence interval as the confidence level increases?

Back

The confidence interval becomes wider.

Front

What is the critical value for a 98% confidence interval?

Back

2.326.

Front

If the mean SAT score is 534 with a margin of error of 20, what is the confidence interval?

Back

(514, 554).

Front

True or False: A smaller confidence interval indicates a higher level of confidence.

Back

False.

Front

What is the relationship between sample size and confidence interval width?

Back

As sample size increases, the width of the confidence interval decreases.

Front

What does it mean if a confidence interval does not include the value of a population parameter?

Back

It suggests that the sample data does not support that parameter value at the given confidence level.