Sample Size and Confidence Interval

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Presentation transcript:

Sample Size and Confidence Interval

When I cover the entire population I get to know the truth – precisely. That means that when my sample size is high I get a more precise answer. That means that when my sample size increases my preciseness increases That means that when my sample size increases my confidence interval becomes smaller

Alpha, Confidence Level and Confidence Interval

Confidence level .95 or 95% Alpha .05 Alpha .01 Confidence level .99 or 99%

Confidence level Confidence Interval I am less confident of throwing inside the inner rings which represent small interval (think: confidence interval) I am more confident of throwing a dart any where on this dartboard which represents bigger interval (think: high confidence interval). Implies that I have higher confidence in making in the higher confidence interval

Alpha .05 Confidence level .95 or 95% Confidence interval

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