Estimating the value of a Parameter

1. Obtain a point estimate for the population proportion

2. Construct and interpret interval for the population proportion

3. Determine the sample size necessary for estimating a population proportion within a specified margin or error

A point estimate is the value of a statistic that estimates the value of a Parameter.

A confidence interval for an unknown Parameter consists of an interval of numbers based on a point estimate.

The level of confidence represents the expected proportion of intervals that will contain the parameter if a large number of different samples obtained. the level of confidence is denoted (1-a) x 100%