8.2 Estimating a Proportion (PANIC) & Choosing Sample Size

What does the acronym PANIC help you remember?

• Steps to calculate a confidence interval

• How to solve algebra problems

• The process of conducting an experiment

• Steps to write a research paper

In the PANIC method, what is the first step?

• Identify the parameter

• Check the assumptions

• Name the procedure

• Calculate the interval

What is the correct interpretation of a 95% confidence interval?

• The interval is 95% accurate

• 95% of the time, the interval will be the same

• We are 95% confident the interval contains the true parameter

• The interval contains 95% of the data

What is the most conservative estimate for p-hat when calculating sample size?

• 0.5

• 0.1

• 0.25

• 0.75

Why do we use the most conservative estimate of p-hat?

• To minimize the sample size

• To ensure the sample size is large enough

• To make calculations easier

• To reduce the margin of error