Proportion variation, confidence intervals for mu, p and sigma^2

5 important questions on Proportion variation, confidence intervals for mu, p and sigma^2

What is a sample statistic?

A sample statistic is a number calculated from sample data that estimates a population parameter.

What is the standard error (SE)?

The standard deviation of a sampling distribution — it shows how much a sample statistic is expected to vary from sample to sample.

What is a confidence interval (CI)?

A range of values that likely contains the true population parameter.
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What is a confidence level?

The confidence level (e.g. 95%) is the probability that the interval will contain the true parameter if the experiment were repeated many times.

When σ is known (large n):

Formula:

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