Question

- 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.**

Answer #1

**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.**

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