01 - Estimating Population Proportions, Part 1 - Learn Confidence Intervals in Statistics

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Do we need to test the data for normality?

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A study on the life span of micro drills was conducted in a research paper titled as “Study on the life distribution of Microdrills”.In the research 50 microdrills were taken for experimentation and based on that the average life of micrdrills was 12.68 hours and standard deviation was 6.83 hours.It is known that the endurance limit is within 95% CI.Using figure draw the 95% CI. According to that if the life span of microdrill lies with in CI a customer will buy 1000 microdrills at 1 $ and if the life span lies out of CI,Customer will buy 1500 for 0.3$.Based on that how much a customer will pay? Dear Sir can you kindly answer this?

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How to you measure or find out sample proportion?

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What's the difference between variance and standard deviation?

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[@MathAndScience]

Welcome!

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Why do we need the margin of error when according to the central limit theorem with number of samples size equal to 30 or greater and the standard deviation of the population known, the sample means mean is equal to the mean of the population mean?

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Great vid, subscribed to your website-based lessons. Here's a question - What is a natural explanation of why the error is highest with p=.5, for a given Zc and n? In other words, as the factor of either p or 1-p approaches 0, the error goes down. Less likely events have lower error?

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[@elvis2495]

Thank you sir for the explanation. Just some help please. I have calculated the sample proportion and I need to calculate the margin of error(E) but, hasn't been given the LOC to use in the problem. My sample size is greater than 30. How do I get the LOC to use in calculating E? should I just assuem a 95% or 99% LOC?Grateful for your support.

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You must assume it to be 95%

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