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Business Statistics, Second Edition
book

Business Statistics, Second Edition

by J. K. Sharma
November 2006
Intermediate to advanced content levelIntermediate to advanced
744 pages
29h 18m
English
Pearson India
Content preview from Business Statistics, Second Edition

Chapter 9

Estimation and Confidence Intervals

LEARNING OBJECTIVES

After studying this chapter, you should be able to

  • understand the concept of a confidence interval.

  • compute the margin of error associated with a sample mean and a proportion.

  • compute and interpret confidence interval estimates to know the precision of the estimate of a population mean and proportion.

  • identify factors that affect the precision of confidence intervals.

  • determine the sample sizes for different levels of precision.

Lest men suspect your tale untrue, keep probability in view.

—John Gay

When in doubt use a bigger hammer.

—Thomas L. Martin Jr.

9.1 INTRODUCTION

In Chapter 8, we have learnt how to use a sample data to draw statistical inference about the unknown ...

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Publisher Resources

ISBN: 9789332503434