Determine a confidence interval around a sample statistic

Assignment Help Basic Statistics

Reference no: EM131153685

Detailed Question:

According to probability theory, we can determine a confidence interval around a sample statistic that will give us a range of error when comparing the sample statistic to the population statistic. We can also determine how much confidence we have in our range of error.

Explain this in more detail. What is a confidence interval and how does it relate to probability theory? Use an example to help explain your answer.

Reference no: EM131153685

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