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What are the implications for choosing different confidence levels for variability in data mining?
Wiki User
∙ 14y ago
Perhaps the data that you are given.
Wiki User
∙ 14y ago
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How do you measure Confidence Level?
That is with a confidence interval of approximately 95% the "true mean" is within the interval of [336.10, 353.90] and that the sample mean (which is an estimate of the "true mean") is $350.00. SMALL-SAMPLE CONFIDENCE INTERVAL FOR A POPLATION MEAN, t-DISTRIBUTION 95% Confidence Interval = x-bar +/- (t-critical value) * s/SQRT(n) x-bar = SAMPLE MEAN [350] s = STANDARD DEVIATION [100] n = NUMBER OF SAMPLES [200] n - 1 = 199 df (DEGREES OF FREEDOM) t-critical value = (approx) 1.972 from "look-up Table for "two-sided interval" df = 200 [CLOSED df IN TABLE] 95% Confidence Interval: 350+/- 1.972 *100 / SQRT(200) = [336.10, 353.90] That is with a confidence interval of approximately 95% the "true mean" is within the interval of [336.10, 353.90] and that the sample mean (which is an estimate of the "true mean") is $350.00. c. ANSWER: A random selection of 1537 customers will provide 95% confidence for estimating the mean extended warranty price paid. Why??? CHOOSING THE SAMPLE SIZE n = [(z-critical value * s)/B]^2 z-critical value = 1.96 (associated with 95% confidence level) s = STANDARD DEVIATION [100.00] B = BOUND ON THE ERROR OF ESTIMATION [5.00] n = [(1.96 * 100.00)/5.00]^2 = 1537 (ROUNDED - UP) CONCLUSION: A random selection of 1537 customers will provide 95% confidence for estimating the mean extended warranty price paid.
When determining the necessary sample size for hypothesis testing of means for a specified level of confidence and margin of error the minimum sample size is given by which?
Sample size determination is the act of choosing the number of observations or replicates to include in a statistical sample. The sample size is an important feature of any empirical study in which the goal is to make inferences about a population from a sample.For Confidence level c, and the critical value of Zc is the number such that the area under the statndard normal curve between -Zc and Zc equals C.n > (zcσ/E)2
What is the probability of choosing Wednesday?
1/7
What is the probability of choosing a letter from the word probability?
Since the word "probability" contains only letters, then the probability of choosing a letter from the word "probability" is 1, i.e. it is certain to happen.
What is the probability of choosing the letter i from the word probability?
2/11
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Inclination
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There are many different things to consider when choosing an assisted living facility. Some of which are, cost, available of medical care and so on. Visit http://www.helpguide.org/elder/assisted_living_facilities.htm for a full guide to choosing the right one for you.
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Looking into bariatric surgery can be very difficult, but it can be even more intimidating to have to deal with finding the appropriate surgeon. Like looking for a good doctor, finding a good bariatric surgeon involves looking for specific credentials, experience, and even personalized meetings. A wonderful tip concerning choosing the right surgeon is to personally meet and study your potential doctor - you will quickly find that the best surgeons have a great deal of confidence and ability to engage the patient. If your surgeon is oozing with confidence, you know that you will be in good hands when the time for surgery comes.
Is confidence attractive?
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our soul is the eternal part of ours which unites us with God. we have a spirit of choice by choosing our actions.
