28 Aug STAT Question
This week we are exploring topic of confidence in estimating parameters. I would like you to discuss why we need to introduce confidence. Have we no confidence in previous estimates (e.g., xbar or s etc.)?
Imagine you are working for a newspaper and your task is to run a telephone poll before elections. Calculated percentages show that Candidate A is estimated to be in lead with 52% of the votes with 3% margin of error. Your boss think it is clear cut and candidate A would win. Nevertheless, she asked you to write a column for tomorrow’s edition about the results.
In your write up, support or disagree with your boss’ conclusion. Explain if there are any potential problems and how the poll could have been planned and executed better. Explain your answer.
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