00:02
Sample gave a proportion of 66%.
00:04
We know that that came from a sample size of 1 ,664 people.
00:10
And they tell us that the margin of air for this particular setting is 3 % if we're finding a 95 % and i'll just call it confidence interval.
00:25
And so to begin with, we want to look at what do we mean by that margin of air.
00:30
If we say the margin of air is 3%, what does that mean? and that means we're going to take some type of an estimate, and we know that when we get that estimate, which in our case is this 66%, we know that we are very doubtful that that's the exact answer.
00:48
So we add on and subtract away some type of a margin of air.
00:54
And that margin of air is going to be controlled by how big of a sample and by the level of confidence that we want to have.
01:01
So basically, i know this answer is not exactly right.
01:06
But based on my sample size and how confident i want to be, i know that if i subtract away this margin of error from my estimate and add on that error, i'll get some interval.
01:19
And this is what the population is, is our parameter.
01:23
The thing we're trying to find.
01:25
And i can have a low estimate and a high estimate, estimate and i can have a certain level of confidence that once i take my estimate plus or minus this margin of error, that my actual proportion is somewhere in between these numbers.
01:40
So again, basically that margin of error helps us look at what would we think that interval or that value that we're trying to find is because we're doubtful that it's exactly that estimate.
01:52
Now, how do you calculate the confidence interval? our confidence interval would be that 66 % plus or minus the margin of air.
02:06
And so if we subtract away, we would find that that's equivalent to 63 % to 69%...