1. (25) confidence interval and p-value are two fundamental concepts in statisti
ID: 3217598 • Letter: 1
Question
1. (25) confidence interval and p-value are two fundamental concepts in statistics. Write a brief explanation for these concepts, state connections and differences, pros and cons, and how to use them in practice. Some researchers advocate the use of p-values while others advocate the use of confidence intervals. Provide your opinion. 2. (a) (4) Correlation and straight line regression are commonly used to investigate the relation- ship between two quantitative variables. Discuss connections and differences between these two methods.Explanation / Answer
1. Confidence interval: CI is an estimator of the population parameter is given by two distinct values between which parameter may be consider to lies. Using confidence interval a researcher can asses how population parameter lies between two sample intervals. By using confidence interval researcher can find the population parameter how must variation is made from the two intervals( lower and upper bounds).
P- value: P-value is the probability value which is frequently used in testing of hypothesis to test the significance of given any statistical data. It plays major role in accepting or rejecting the hypothesis. When the p-value nearly equalts to one it indicates how information is strong about the given situation. In general, P-values is more than ALPHA(0.01 or 0.05 or 0.10) value, it indicates there is no significance of the statistical data, if it is lesthan Alpha value it indicates data is significant.
2. Correlation: Correlation is the relationship between the variables. Correlation is a statistical tool which helps to find relation and strength of the given variables. Correlation is fails to measure cause and effect of the given variables corresponding quantitative data. Before using correlation a researcher should know the given variables are related or not. It is given by Karl pearson's.
Regression: Regression is a statistical tool used to estimate a un-known value of one variable from the known value of related variable, given by Sir Francis galton. The leteral meaning of regression is it moves backward direction. Using regression researcher can estimate or forecast the statistical data. It is most important tool in statistics to analyse the statistical data as wel as to find the relationship between the varaibles using regression coefficients.
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.