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Ch 10: Confidence Intervals

About This Chapter

Achieve a better understanding of confidence intervals using the lessons in this chapter. Short lessons and interactive quizzes can help you study for an exam, supplement your learning materials or boost your understanding of business statistics for personal or professional interest.

Confidence Intervals - Chapter Summary

In this chapter on confidence intervals, you'll explore how statisticians and researchers use point and interval estimations to ensure higher levels of accuracy. The lessons also cover how to find the confidence interval in different types of data distributions and proportions. These lessons are presented in an easy-to-follow format and combined with self-assessment quizzes. If you need to review a specific part of a video lesson, the video tags in the Timeline allow you to jump back to any point. Using these lessons, you'll be prepared to do the following:

  • Differentiate between point and interval estimations
  • Estimate confidence intervals by determining sample size
  • Find confidence intervals with normal and t distribution
  • Share an example of degrees of freedom
  • Define sample proportion in statistics
  • Calculate confidence intervals, coefficients and levels
  • List components of the sampling process in business
  • Exhibit knowledge of considerations for small samples in inferential statistics
  • Quantify reliability by applying confidence intervals in business

11 Lessons in Chapter 10: Confidence Intervals
Test your knowledge with a 30-question chapter practice test
Point & Interval Estimations: Definition & Differences

1. Point & Interval Estimations: Definition & Differences

Statisticians have to use estimation to describe and infer information from gathered data. In this lesson, you will learn about the two types of estimation used: point and interval estimation.

Determining the Sample Size to Estimate Confidence Intervals: Definition & Process

2. Determining the Sample Size to Estimate Confidence Intervals: Definition & Process

In this lesson, you will learn how to determine the most appropriate sample size to find the confidence interval we need using a specific case example.

Finding Confidence Intervals with the Normal Distribution

3. Finding Confidence Intervals with the Normal Distribution

In this lesson, you're going to learn how to construct a confidence interval when the population's standard deviation is known and the population is normally distributed.

Using the t Distribution to Find Confidence Intervals

4. Using the t Distribution to Find Confidence Intervals

In this lesson, you're going to learn how we find confidence intervals for normally distributed populations where the population standard deviation is not known. Work through the sample, then test your understanding with a brief quiz.

Degrees of Freedom: Definition, Formula & Example

5. Degrees of Freedom: Definition, Formula & Example

Degrees of freedom is a mathematical equation used primarily in statistics, but also in mechanics, physics, and chemistry. In this lesson, explore how degrees of freedom can be used in statistics to determine if results are significant.

Sample Proportion in Statistics: Definition & Formula

6. Sample Proportion in Statistics: Definition & Formula

This lesson talks about the definition, formula, and use of the sample proportion. We also see a brief intro into the concept of margin of error and selection of sample size. After completing the lesson, take a short quiz to see what you have learned.

Finding Confidence Intervals for Proportions: Formula & Example

7. Finding Confidence Intervals for Proportions: Formula & Example

In this lesson, you're going learn how to figure out the margin of error, confidence interval, and point estimate for a population proportion with large sample sizes.

Calculating Confidence Intervals, Levels & Coefficients

8. Calculating Confidence Intervals, Levels & Coefficients

In this lesson, you're going to learn about confidence intervals, confidence levels, and coefficients, and how they relate to point estimates and interval estimates.

Sampling Process in Business: Components & Examples

9. Sampling Process in Business: Components & Examples

Statistics are an important tool used by business leaders to make solid, accurate business decisions. This lesson explores three important statistical concepts and explains their relevance in business decision-making activities.

Considerations for Small Samples in Inferential Statistics

10. Considerations for Small Samples in Inferential Statistics

Small samples should be avoided in inferential statistics, but there are certain circumstances that require small sample sizes. This lesson reviews those circumstances and procedures to follow when using small samples.

Applying Confidence Intervals in Business to Quantify Reliability

11. Applying Confidence Intervals in Business to Quantify Reliability

In this lesson we will understand how to apply confidence intervals to a business application. This statistical measurement will provide a statement of confidence that sample measurements are actually representative of the entire population. The concepts are explained with the help of an example to calculate confidence intervals.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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