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4 Step Process for confidence- State
State: what parameter do you want to estimate, and at what confidence level?
Ex: with 99% confidence we can estimate the true proportion/mean of Pennie’s more than 10 yrs old from Mrs. Quinn’s collection.
4 Step Process for confidence- Plan
Check if it is a SRS
Check 10 percent condition 10n <_ 10
Check sample condition np/nq >_ 10
4 Step Process for confidence- Do
Use one of two formulas to solve
4 Step Process for confidence- conclude
Give conclusion of interval
Ex:
We are 99% confident that the interval from 43.22% to 68.55% will capture the true proportion of pennies more than 10 years old from Mrs Quinn’s collection.
