Question

In: Economics

What is trade off for using a wide range of confidence versus a more narrow range...

What is trade off for using a wide range of confidence versus a more narrow range of confidence to report performance on tests? Think about the ranges from the perspective of a client who needs resources or services and a person who manages scarce social services or resources.

Solutions

Expert Solution

A confidence interval, in statistics, refers to the probability that a population parameter will fall between a set of values for a certain proportion of times. Confidence intervals measure the degree of uncertainty or certainty in a sampling method. They can take any number of probability limits, with the most common being a 95% or 99% confidence level.

There are many situations where it is of interest to compare two groups with respect to their mean scores on a continuous outcome. For example, we might be interested in comparing mean systolic blood pressure in men and women, or perhaps compare body mass index (BMI) in smokers and non-smokers. Both of these situations involve comparisons between two independent groups, meaning that there are different people in the groups being compared.

We could begin by computing the sample sizes (n1 and n2), means ( and ), and standard deviations (s1 and s2) in each sample.

In the two independent samples application with a continuous outcome, the parameter of interest is the difference in population means, μ1 - μ2. The point estimate for the difference in population means is the difference in sample means:


Related Solutions

1. What are narrow window studies and wide window studies in accounting research, and what are...
1. What are narrow window studies and wide window studies in accounting research, and what are they used for respectively. 2. List Fair value hierarchy according to IFRS 13, ASC 820-10
[2 pts] Narrow confidence intervals give us more precise estimates of our parameter. What two quantities...
[2 pts] Narrow confidence intervals give us more precise estimates of our parameter. What two quantities does the researcher control that affect the width of a confidence interval, and how can the researcher change them to result in narrower confidence intervals? A random sample of 12 MSU students were surveyed and asked “How much did you spend on textbooks this semester?” What type of plot should be used to display these data? Select all that apply. Histogram Segmented bar chart...
Discuss the trade-off that society faces from longer versus shorter patents.
Discuss the trade-off that society faces from longer versus shorter patents.
define the following: quality-quantity trade off geography versus institutions debate
define the following: quality-quantity trade off geography versus institutions debate
What do you think are some advantages for using the ABC method versus a single plant-wide...
What do you think are some advantages for using the ABC method versus a single plant-wide rate or multiple departmental overhead rates. Why would an activity-based costing (ABC) system appeal to some companies and not all companies. Provide at least 3 examples of companies you think would and wouldn't want to use the ABC method.
What do you think are some advantages for using the ABC method versus a single plant-wide...
What do you think are some advantages for using the ABC method versus a single plant-wide rate or multiple departmental overhead rates. Why would an activity-based costing (ABC) system appeal to some companies and not all companies. Provide at least 3 examples of companies you think would and wouldn't want to use the ABC method. Please help!
Why is it so important that blood glucose levels be maintained within a narrow range? what...
Why is it so important that blood glucose levels be maintained within a narrow range? what is bad about having too much or too little glucose in the blood? How are insulin and glucagon involved in regulating the concentration of glucose in the blood?
Discuss the trade-off between inflation and unemployment using Phillips curves.
Discuss the trade-off between inflation and unemployment using Phillips curves.
Discuss the trade-off between inflation and unemployment using Phillips curves.
Discuss the trade-off between inflation and unemployment using Phillips curves.
Explain the trade-off between stringent recognition criteria for R&D aimed at enhancing decision usefulness versus the...
Explain the trade-off between stringent recognition criteria for R&D aimed at enhancing decision usefulness versus the possible social impacts of the current IAS 138/AASB 138 R&D rules.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT