Confidence Interval Estimates for the Proportion
While some individuals prefer to display results in marginal error vs. the level of confidence each has value and interpretation to the reader. The confidence intervals are not limited to the estimate of mean they can also calculate an estimate of proportions. Both are essentially the same. The two have a confidence level and need an adequate sample size. The only difference is there is no standard deviation in the confidence proportion (Mirabella, 2011). The portion of MBA students electing Finance as their major is 55 of a 200-student sample size. The confidence interval revealed a 0.213 <=. These calculations will be the building blocks for sample size determination for proportion or mean.
While some individuals prefer to display results in marginal error vs. the level of confidence each has value and interpretation to the reader. The confidence intervals are not limited to the estimate of mean they can also calculate an estimate of proportions. Both are essentially the same. The two have a confidence level and need an adequate sample size. The only difference is there is no standard deviation in the confidence proportion (Mirabella, 2011). The portion of MBA students electing Finance as their major is 55 of a 200-student sample size. The confidence interval revealed a 0.213 <=. These calculations will be the building blocks for sample size determination for proportion or mean.