ECO220Y1 Chapter 11: ECO220Y1 Chapter 11 Notes
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ECO220Y1 Full Course Notes
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11. 1 a confidence interval: using p and the se of a sample mean, we can state an interval of confidence in which we are _% confident p is within the interval, i. e. if p = 0. 15 and se( p =0. 011 , we can state we are 95% sure that p will be within 2se"s above and below 0. 15. , things we would like to say and reasons why most cannot be said (using p = P z se( p) where z* is a critical value from the standard normal model corresponding to the specified confidence level: when we say we are 95% confident that our interval contains the true proportion, we are saying, 95% of samples of this size will produce confidence intervals that capture the true proportion. , intervals will vary sample to sample; the true proportion will not change however, can never be 100% certain whether your interval worked.
