Objectives: Learning objectives
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Explain the purpose and use of confidence intervals.
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Construct 95% confidence intervals assuming the point estimate follows a normal distribution.
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Calculate the critical value for a C% confidence interval when the point estimate follows a normal distribution.
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Describe how sample size and confidence level affect the width of a confidence interval.
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Interpret a confidence interval and the confidence level in context.
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Draw conclusions with a specified confidence level about the values of unknown parameters.
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Calculate and interpret the margin of error for a C% confidence interval. Distinguish between margin of error and standard error.