QMS 102 Lecture Notes - Confidence Interval, Standard Deviation, Sample Size Determination

• School: Ryerson University
• Department: Quantitative Methods
• Course: QMS 102
• Professor: Margaret Buckby

Document Summary

Depends on 3 factors: desired level of confidence. 95% and 99% most common: acceptable margin of error. The width of the confidence interval: variability in population of study. Looking at our formula for estimating the population mean: Pieces of the equation n z s . A study is set up to determine the average remuneration earned by members of city council in large cities. It is desired that the error from the mean is less than ,000 with a 95% level of confidence. It is estimated the least a council member is paid is ,000 and the most is. Looking at our formula for estimating the population proportion: If there is no estimate available for p p = 5 nq pz pp nq pz e 3. 5 sample size. A study is set up to determine the proportion of cities with private refuse collection.