Table of contents
- 1. Introduction to Statistics53m
- 2. Describing Data with Tables and Graphs2h 1m
- 3. Describing Data Numerically2h 8m
- 4. Probability2h 26m
- 5. Binomial Distribution & Discrete Random Variables3h 28m
- 6. Normal Distribution & Continuous Random Variables2h 21m
- 7. Sampling Distributions & Confidence Intervals: Mean3h 37m
- Sampling Distribution of the Sample Mean and Central Limit Theorem19m
- Distribution of Sample Mean - Excel23m
- Introduction to Confidence Intervals22m
- Confidence Intervals for Population Mean1h 26m
- Determining the Minimum Sample Size Required12m
- Finding Probabilities and T Critical Values - Excel28m
- Confidence Intervals for Population Means - Excel25m
- 8. Sampling Distributions & Confidence Intervals: Proportion1h 33m
- 9. Hypothesis Testing for One Sample3h 32m
- 10. Hypothesis Testing for Two Samples4h 49m
- Two Proportions1h 12m
- Two Proportions Hypothesis Test - Excel28m
- Two Means - Unknown, Unequal Variance1h 2m
- Two Means - Unknown Variances Hypothesis Test - Excel12m
- Two Means - Unknown, Equal Variance15m
- Two Means - Unknown, Equal Variances Hypothesis Test - Excel9m
- Two Means - Known Variance12m
- Two Means - Sigma Known Hypothesis Test - Excel21m
- Two Means - Matched Pairs (Dependent Samples)42m
- Matched Pairs Hypothesis Test - Excel12m
- 11. Correlation1h 24m
- 12. Regression1h 59m
- 13. Chi-Square Tests & Goodness of Fit2h 31m
- 14. ANOVA2h 1m
7. Sampling Distributions & Confidence Intervals: Mean
Introduction to Confidence Intervals
Struggling with Statistics for Business?
Join thousands of students who trust us to help them ace their exams!Watch the first videoMultiple Choice
Find α for a 90% confidence interval.
A
α=0.90
B
α=0.10
C
α=0.05
D
α=0.01
Verified step by step guidance1
Understand that the confidence level is the probability that the interval contains the true parameter value. For a 90% confidence interval, this means we are 90% confident that the interval contains the true parameter.
Recognize that the confidence level is related to the significance level, denoted as \( \alpha \). The significance level is the probability of rejecting the null hypothesis when it is true, which is the complement of the confidence level.
Calculate \( \alpha \) by subtracting the confidence level from 1. For a 90% confidence interval, \( \alpha = 1 - 0.90 \).
Perform the subtraction: \( \alpha = 0.10 \). This means that the significance level for a 90% confidence interval is 0.10.
Conclude that \( \alpha = 0.10 \) is the correct significance level for a 90% confidence interval, which corresponds to the probability of making a Type I error.
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Multiple Choice
A Net Promoter Score (NPS) would be used to measure which of the following outcomes?
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