Confidence Interval
a range of values constructed around a sample statistic that estimates the parameter
AKA: Interval Estimate
Confidence Limit
Lower and upper bounds of a confidence interval
3 -Parts of a Confidence Interval
Margin of Error
The largest possible distance between the statistic and the parameter
(critical value)(standard error)
Confidence Level
the percentage of intervals that will contain the parameter given a statistic
Confidence Coefficient
The confidence level as a proportion
⍺
AKA: Significance level
As ⍺ gets smaller →
it becomes more “strict” or “stringent” and the “specificity” of the interval decreases
Critical Value
z-scores that correlate to the confidence limits
Critical Probability
Area below a z-score
Critical Value for a 99% CI
⍺ = 0.01
CV = +/- 2.576
Estimating Sample Size Without σ
T-Distribution v. Z-Distribution (3)
Sample Size and Critical Values (t-table)
as the sample size increases → the critical value decreases → margin of error decreases → CI becomes smaller
Degrees of Freedom
n-1
p*