Suppose that a friend of yours says that they were reading about confidence intervals and ask you the following questions: Part 1 When they encountered the symbols a and mu (µ) they ask "What's the difference between what these symbols represent, and what does that have to do with confidence intervals?" (make sure you answer both parts of the question). 1. Part 2 When building a confidence interval, we use a point estimate and margin of error. Explain what these two terms mean, and discuss how the margin of error is related to the sample size.

A First Course in Probability (10th Edition)
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ISBN:9780134753119
Author:Sheldon Ross
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Chapter1: Combinatorial Analysis
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Suppose that a friend of yours says that they were reading about confidence intervals and ask you the following questions:
Part 1
When they encountered the symbols a and mu (u) they ask "What's the difference between what these symbols represent, and what does that
have to do with confidence intervals?" (make sure you answer both parts of the question).
1.
Part 2
When building a confidence interval, we use a point estimate and margin of error. Explain what these two terms mean, and discuss how the
margin of error is related to the sample size.
Transcribed Image Text:Suppose that a friend of yours says that they were reading about confidence intervals and ask you the following questions: Part 1 When they encountered the symbols a and mu (u) they ask "What's the difference between what these symbols represent, and what does that have to do with confidence intervals?" (make sure you answer both parts of the question). 1. Part 2 When building a confidence interval, we use a point estimate and margin of error. Explain what these two terms mean, and discuss how the margin of error is related to the sample size.
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