Question

# Please describe briefly (in approximately 50 words each) three distinct scenarios where one or more of...

1. Please describe briefly (in approximately 50 words each) three distinct scenarios where one or more of the confidence Interval tools that we covered would play a useful role. For each scenario, please define 1) the population(s), 2) the sample), 3) the parameter of interest, 4) margin of error and 5) explain how/why confidence intervals would be helpful.

Solution :

1) Population : According to the statistics the population term is defined as it includes all the members of a defined group that we are collecting or studying the information of data driven decisions

2) Sample : It is a subset of population and is the set of values actually use in estimation

3) The Parameter of interest : The parameter is known as any summary number like an average or percentage, that describes the entire population .

4) Margin of error : The margin of error is a statistic expressing the amount of random sampling error in a surveys results . It is defined as the radius of a confidence interval for parameter

5) Confidence interval : It represents the range of scores that are likely if we were to repeat the survey ,Hence the confidence intervals is important.

#### Earn Coins

Coins can be redeemed for fabulous gifts.