Question

In: Statistics and Probability

CONFIDENCE INTERVAL PROJECT – Day 1 For this project, you’ll be calculating a Confidence Interval for...

CONFIDENCE INTERVAL PROJECT – Day 1

For this project, you’ll be calculating a Confidence Interval for both a Proportion and a Mean. You must first choose a theme for your project. Choose something that you are interested in and passionate about.

THEME: ____________________________________

**For this entire project, we are making the population “people you know.” This will allow you to collect data from anyone!

PROPORTION CONFIDENCE INTERVAL:

Think about a proportion that you wish you knew about all of the people that you know. Fill in the following statement relating to your theme:

I wonder what proportion of people that I know ________________________________??

For example: (have red hair)

(are practicing social distancing)

(watched Game of Thrones)

(think Brad Pitt is a good actor)

If you knew the answer to your above question, would it be a statistic or parameter?

(Circle one)

What symbol would represent its value? ________

MEAN CONFIDENCE INTERVAL

This about an average you wish you knew about all of the people that you know. Fill in the following statement relating to your theme:

I wonder what the average _________________________ is of all of the people I know??

For example: (weight)

(number of CDs owned)

(age)

If you knew the answer to your above question, would it be a statistic or parameter?

(Circle one)

What symbol would represent its value? ________

Solutions

Expert Solution

The 'theme' is subjective and I don't consider my choices significant enough to be put down in an answer. Let's proceed with the remaining parts.The main aim of the exercise to understand the difference between a statistic and a parameter:

POPULATION CI:

Assume my choice for the first blank is: I wonder what proportion of people that I know are practicing social distancing.

If I knew the answer to the above question, my answer would have been a PARAMETER. Note, the quantity I am talking about is specific to the population (which is 'all the people I know' in this case), and if I knew the answer (exactly), the knowledge didn't require me to collect a sample and hence it's not a function of a sample, i.e its not a statistic.

Conventionally, 'p' denotes population proportion in statistics.

MEAN CI:

Suppose my choice for the blank is: I wonder what the average weight is of all of the people I know??

If I would have known the answer to that, by a similar argument as above, the answer would correspond to the POPULATION MEAN, which is a PARAMETER.

Conventionally, '' denotes population mean in statistics.


Related Solutions

CONFIDENCE INTERVAL PROJECT – Day 3 AFTER YOUR DONE CALCULATING, FOR EACH CONFIDENCE INTERVAL: Describe your...
CONFIDENCE INTERVAL PROJECT – Day 3 AFTER YOUR DONE CALCULATING, FOR EACH CONFIDENCE INTERVAL: Describe your process of constructing the 95% CI Interpret your results of the CI in context Do you believe your CI is accurate? Explain why or why not, using values as your justification. (You will not be graded on whether or not it’s accurate, but instead on how you discuss its accuracy.) Who do you think might be interested in your data? Why? How might they...
For this part of the project, you’ll collect data on various measure of confidence from the...
For this part of the project, you’ll collect data on various measure of confidence from the FRED website Figure 10 – University of Michigan: Consumer Sentiment (UMCSENT), last year Figure 11 – S&P 500 (SP500), last year Figure 12 – St. Louis Fed Financial Stress Index (STLFSI), last year 1. In your own words, briefly describe what each of the three indices measure. Why are these considered an indicator of the economy’s “health”? 2. How have these indices changed over...
For this part of the project, you’ll collect data on various measure of confidence from the...
For this part of the project, you’ll collect data on various measure of confidence from the FRED website. University of Michigan: Consumer Sentiment (UMCSENT), last year S&P 500 (SP500), last year St. Louis Fed Financial Stress Index (STLFSI), last year 1. In your own words, briefly describe what each of the three indices measure. Why are these considered an indicator of the economy’s “health”? 2. How have these indices changed over the past year? Do you think consumers and firms...
Confidence Interval 1 All of the questions with the header "Confidence Interval 1" are based on...
Confidence Interval 1 All of the questions with the header "Confidence Interval 1" are based on the data in this problem. A researcher at the Annenberg School of Communication is interested in studying the use of smartphones among young adults. She wants to know the average amount of time that college students in the United States hold a smartphone in their hand each day. The researcher obtains data for one day from a random sample of 25 college students (who...
1) Determine if you should use a confidence interval for the mean or a confidence interval...
1) Determine if you should use a confidence interval for the mean or a confidence interval for proportions for each variable: a.The number of hot dogs eaten in a day b.The percentage of cancer patients who recover after treatment c.The micrograms of cholesterol in a person’s blood stream d.The percentage of defective products in a shipment. Must show all work
When calculating the 99% confidence interval for a sample of 15 patients, what constant is used...
When calculating the 99% confidence interval for a sample of 15 patients, what constant is used in the formula?
For this project you will estimate parameters using confidence intervals. For each confidence interval, make sure...
For this project you will estimate parameters using confidence intervals. For each confidence interval, make sure you report   The confidence interval limits rounded as directed (Use StatCrunch to find all confidence interval limits. Use Stat>Proportion Stats to find confidence interval limits for proportions. Use Stat>T Stats to find confidence interval limits for means.) Refer to the resources on the course home page for more information about confidence intervals and how to find them using StatCrunch. An interpretation of the confidence...
1.Construct the confidence interval for μ 1 − μ 2 for the level of confidence and...
1.Construct the confidence interval for μ 1 − μ 2 for the level of confidence and the data from independent samples given. 95% confidence: n 1 = 110, x - 1 = 77, s 1 = 15 n 2 = 85, x - 2 = 79, s 2 = 21 90% confidence: n 1 = 65, x - 1 = − 83, s 1 = 12 n 2 = 65, x - 2 = − 74, s 2 = 8...
1. State the assumptions 2. State the appropriate confidence interval formula 3. find the confidence interval...
1. State the assumptions 2. State the appropriate confidence interval formula 3. find the confidence interval via calculator 4. write a full sentence for this interval 5. interpret the interval Psychologists have found that twins, in their early years, tend to have lower intel- ligence and pick up languages more slowly than nontwins. The slower intellectual growth of twins may be caused by benign parental neglect. Suppose we want to investigate this phe- nomenon. A random sample of 50 sets...
define confidence interval and degree of confidence. provide at least one example of a confidence interval...
define confidence interval and degree of confidence. provide at least one example of a confidence interval and interpret the result. Please give an example so i can also understand thank you!
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT