Question

Discuss how confidence intervals are applied to marketing or political polls. Provide two examples of how the data is displayed. Discuss the ethical implications associated with interpretation of the data.

Answer 1

ANSWER:

Given that,

Example 1:

We want to know how many people love soccer in a country.

Since one cannot interview whole population of a country about their preference, so we take a random sample of people and ask about their preference.Then we would estimate a range and make conclusion about the population based on the sample.

Eg: “I am 95% confident that the percentage of people that love soccer in the U.S. is between 58% and 62%”

Given below is a representation of a normally distributed population.

Example 2:

The size of apples in an apple orchard.

We calculate the mean and standard deviation of a random samples of apples from the orchard.

Then we calculate the 95% Confidence Interval from the sample which will represent that the true mean size of all the apples in the orchard lies in the Confidence Interval 95% of the times.