Confidence Intervals for Proportions

Flashcards covering key vocabulary and concepts related to confidence intervals for proportions.

Confidence Interval

Confidence intervals provide an estimated range (lower, upper) for predictions.

Margin of Error

The spread associated with a confidence interval; a larger spread indicates a higher likelihood of correctness but less precision.

Critical Value

A value (z*) that corresponds to a specific confidence level, used in calculating the margin of error.

Standard Error

The estimated standard deviation of a sampling distribution, particularly when the population parameter is unknown.

Confidence Interval

A range of values calculated from sample data to estimate an unknown population parameter with a certain level of confidence.

95% Confidence Interval

Unless otherwise specified, a level indicating that approximately 95% of observations fall within about 2 standard deviations of the mean.

Randomization Condition

The condition where data points are sampled randomly or generated from a properly randomized experiment which helps ensure independence.

10% Condition

The condition requiring that the sample size is no more than 10% of the population

Success/Failure Condition

The condition that requires at least 10 'successes' and 10 'failures' in the sample, necessary for using the Central Limit Theorem.

z* = 1.645

A critical value (z*) used for calculating a 90% confidence interval.

z* = 1.96

A critical value (z*) used for calculating a 95% confidence interval.

z* = 2.576

A critical value (z*) used for calculating a 99% confidence interval.