Question
Suppose you observe Y1,...,Yn, where each Yi is 0 (no) or 1 (yes). Assume that Y1,...,Yn...
Suppose you observe Y1,...,Yn, where each Yi is 0 (no) or 1 (yes). Assume that Y1,...,Yn are independent and identically distributed. Define p = E[Yi], which is unknown.
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What is the standard deviation of the sample average? Use p in this answer.
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Note that the maximum value for p is 1 and the minimum is 0. What is the largest standard deviation of the sample average? (Maximize the previous answer over p.) What is the sample size n which makes the standard deviation of the sample average less than 5%?
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What is the standard error of the sample average? (You cannot use p in this question.)
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What is the 95% confidence interval?
Homework Answers
Answer #1
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