Confidence Interval Estimation (PPT)

Basic Business Statistics (8th Edition)
Chapter 8 - Confidence Interval Estimation

Chapter Topics

• Estimation process
• Point estimates
• Interval estimates
• Confidence interval estimation for the mean ( known)
• Determining sample size
• Confidence interval estimation for the mean ( unknown)

Chapter Topics

• Confidence interval estimation for the proportion
• Confidence interval estimation for population total
• Confidence interval estimation for total difference in the population
• Estimation and sample size determination for finite population
• Confidence interval estimation and ethical considerations

Confidence Interval Estimates
Confidence Interval for Known
Assumptions
Confidence interval estimate

Elements of Confidence Interval Estimation

• Level of confidence
• Precision (range)
• Cost

Ethical Considerations

• Report confidence interval (reflect sampling error) along with the point estimate
• Report the level of confidence
• Report the sample size
• Provide an interpretation of the confidence interval estimate

Chapter Summary

• Illustrated estimation process
• Discussed point estimates
• Addressed interval estimates
• Discussed confidence interval estimation for the mean ( known)
• Addressed determining sample size
• Discussed confidence interval estimation for the mean ( unknown)

Chapter Summary

• Discussed confidence interval estimation for the proportion
• Addressed confidence interval estimation for population total
• Discussed confidence interval estimation for total difference in the population
• Addressed estimation and sample size determination for finite population
• Addressed confidence interval estimation and ethical issues

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