STATISTICAL INFERENCE: MAKING DATA-DRIVEN DECISIONS - CONFIDENCE INTERVALS
4 important questions on STATISTICAL INFERENCE: MAKING DATA-DRIVEN DECISIONS - CONFIDENCE INTERVALS
True or False. Central Limit Theorem (CLT) only applies if the sample size or N, is 30 or greater.
True or False. If we don't know the standard deviation, for sufficiently large (30 above) random samples, we use the standard deviation of the sample, or s. So while the formula uses sigma (o), in reality we usually substitute (s).
True or False. For any confidence interval we calculate, whether it is for means or proportions, we use point estimate to to mark the centre of interval.
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True or False. For proportion, the center of a confidence interval is (p) - the sample proportion.
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