From the course: Statistics Foundations 3: Using Data Sets
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Components of a confidence interval
From the course: Statistics Foundations 3: Using Data Sets
Components of a confidence interval
- Before we create confidence intervals that will help us identify the true population proportion, let's take a look at the formula and the elements of the formula that we'll use to create the upper limit and the lower limit of our confidence intervals. The formula for the upper limit is p-hat plus a z-score times the standard deviation. The formula for the lower limit is p-hat minus a Z-score times the standard deviation. Let's look at each element individually. In this example, let's say we're trying to figure out the proportion of women in a city with a population of 250,000 people. First let's look at p-hat. Remember we're only taking one simple random sample to create our confidence interval. p-hat will be the proportion of women in our single random sample. If our single sample is 100 people and that sample contains 55% women, we would say our p-hat for this sample was 0.55. Next, let's look at the standard…
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