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Calculating Confidence Intervals

Author: Rachel Orr-Depner
Video Transcript
Terms to Know
Confidence Interval

An interval that contains likely values for a parameter. We base our confidence interval on our point estimate, and the width of the interval is affected by confidence level and sample size.

Critical Value

A value that can be compared to the test statistic to decide the outcome of a hypothesis test

Margin of Error

An amount by which we believe our sample's mean may deviate from the true mean of the population.

Formulas to Know
Confidence Interval of Population Mean

C I space equals space x with bar on top space plus-or-minus space t asterisk times space fraction numerator s over denominator square root of n end fraction

Confidence Interval of Population Proportion

C I space equals space p with hat on top space plus-or-minus space z asterisk times space square root of fraction numerator p with hat on top q with hat on top over denominator n end fraction end root