00:01
Why do we calculate a confidence interval? is it a? to provide a range of values with a large probability of containing the sample statistic.
00:11
B, with a certain measure of confidence, the sample statistic.
00:16
C, with a large probability the population parameter, or with a certain measure of confidence, a population parameter.
00:23
So to make a confidence interval, you start with the sample statistic.
00:29
So you want to know something about the entire population, but it would take a really long time to find that out.
00:36
The parameter is very hard to find exactly.
00:39
You'd have to survey everybody, for example.
00:42
So you start with a statistic.
00:48
You start with the statistic for the sample you have, and you extrapolate.
00:54
So you are calculating a confidence interval based on the statistic.
00:59
For example, if it's a sample mean, your confidence level is x bar plus a minus.
01:04
The margin of error.
01:06
Maybe it's a proportion and you have p hat, the sample proportion, plus minus margin of error.
01:13
And this gives you an interval...