Intervals for Population Proportion:
Confidence Interval: a range of values so defined that there is a specified probability that the value of a parameter lies within it
Confidence Level: the probability that the value of a parameter falls within a specified range of values
Conditions for constructing a confidence interval for the parameter: SRS, 10% Rule, and Large Counts
Interpret values example: We are __% confident that the confidence interval captures the proportion of red beads between __and___.
Confidence interval formula:
Determining Sample Size:
T* Intervals vs. Z* Intervals
When a sample size is 30+ t* interval is used
When a sample size below 30 z* interval is used
T* formula: x̄ +- t* (sx/√n)
Z* formula: z*+-p^√p^(1-p^)/n