How to Calculate the Confidence Interval for the Population Mean | Standard Error, Z-score
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- Опубліковано 14 січ 2021
- How to Calculate the Confidence Interval for the Population Mean using the distribution of sample means which includes the Standard Error and Z-score
1:15 - The Distribution of Sample Means
3:25 - Explaining the Confidence Interval Equation (Z-score, Standard Error, Sample Mean)
6:16- Example - Calculating the 95% Confidence Interval for the Population Mean (Known Population Mean).
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Thanks Daniel,
This is much better for my way of learning. Reading the book and listening in class really works for some people. However, your videos breaks it down to where I can hit replay until I totally get the lesson.
Great video!
Thank you so much! I have been struggling with this concept for about a week now, and you just laid all of my confusion to rest. Thanks
Hey Daniel!!! Glad I could be of service!
Keep that good work going! Helped me so much, thank you!
Great work, keep on posting videos. Thank you
You're welcome!
I'm Glad you like it!
-Andy
Thank you Mr. Andy for this amazing vedio.
You're welcome Mahgoub!!!!!
Thanks for this video, I am doing your course snd this is a great complement
Thanks Angel, glad you like it!
Thank you for this informative video!
You are so welcome!
-Andy
Thanks for the video.
You're welcome!!!
Appreciate It
You're welcome!
I am a fan of your videos. Please keep up the good work. However, for this particular lesson, I have a question. Normally we need to work with sample instead of the whole population and in this video you also mentioned that the mean of the the population is unknown. My question is: in order to calculate the confidence interval of the population mean, one of the parameter that we need to know is the standard deviation (sigma) of the POPULATION. Then how do we know (or calculate) this standard deviation value?
amazing vid thx g
Thanks!!!
Hey, Thanks for the simple explanation. I was wondering though if the sampling distribution of sample means is a normal distribution..and we have to calculate 95% Confidence interval.. Can we not use the property of Normal dist that 95% data lies between -2sigma and +2sigma ? Why do we choose a z score of 1.96 instead ?
Hey Ananya!!! Great question, and you've obviously got a strong working knowledge of the normal distribution and the central limit theorem!!!
You're right +/- 2 sigma captures ~ (approximately) 95% of the distribution. 1.96 is very close to 2.00, and is the z-score that capture (more accurately) 95% of the distribution.
It's sort of splitting hairs, and if you just need a quick approximation, using 2.0 (instead of 1.96) will get you close enough.
@@CQEAcademy I was giving myself a hard time to connect all the dots. Thank you so much for clarifying 🙌😊
@@ananyaagarwal7108 You're absolutely welcome!!! Glad to help
Where is Z located? Alpha is known
Hey Alfred!!!
Okay so if you know the alpha risk, you can use a normal probability table to translate that into the Z-score.
I cover this in this video:
ua-cam.com/video/6hH7LwCw8qY/v-deo.html
And if you want a copy of those normal probability tables, just shoot me an email at Andy@CQEAcademy.com and I can share that with you!
-Andy