a marketing team think their new ads are better than the prior ones. They used to be able to sell to 50% of those who saw their ads. To test their thought, they run a hypothesis test. if they take a random sample of 100 potential buyers and find that they convinced 60 of these people to buy their product, what is their test statistic? Is their new ad campaign better? The test will be run at a 1% significance level

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Confidence Intervals

When we calculate intervals in probability and statistics, it can be simply termed as finding out a confidence interval. The confidence interval is usually calculated from the data set which is observed. The value of the parameter that needs to be calculated is present here only.