Videos
What is the z-score for 95% confidence interval?
The z-score for a two-sided 95% confidence interval is 1.959, which is the 97.5-th quantile of the standard normal distribution N(0,1).
What is the z-score for 99% confidence interval?
The z-score for a two-sided 99% confidence interval is 2.807, which is the 99.5-th quantile of the standard normal distribution N(0,1).
How to calculate confidence interval?
To calculate a confidence interval (two-sided), you need to follow these steps:
- Let's say the sample size is
100. - Find the mean value of your sample. Assume it's
3. - Determine the standard deviation of the sample. Let's say it's
0.5. - Choose the confidence level. The most common confidence level is
95%. - In the statistical table find the Z(0.95)-score, i.e., the 97.5th quantile of N(0,1) – in our case, it's
1.959. - Compute the standard error as
σ/√n = 0.5/√100 = 0.05. - Multiply this value by the z-score to obtain the margin of error:
0.05 × 1.959 = 0.098. - Add and subtract the margin of error from the mean value to obtain the confidence interval. In our case, the confidence interval is between 2.902 and 3.098.
is used because the
confidence interval has only
on each side. The probability for a
score below
is
, and similarly for a
score above
; added together this is
.
would be correct for a
confidence interval, as the two sides (
each) add up to
.
To Find a critical value for a 90% confidence level.
Step 1: Subtract the confidence level from 100% to find the α level: 100% – 90% = 10%.
Step 2: Convert Step 1 to a decimal: 10% = 0.10.
Step 3: Divide Step 2 by 2 (this is called “α/2”). 0.10 = 0.05. This is the area in each tail.
Step 4: Subtract Step 3 from 1 (because we want the area in the middle, not the area in the tail): 1 – 0.05 = .95.
Step 5: Look up the area from Step in the z-table. The area is at z=1.645. This is your critical value for a confidence level of 90%.
http://www.statisticshowto.com/find-a-critical-value/
hope this helps
For the empirical rule, we say “two” because it’s more convenient to say that than to say 1.96. The correct value is 1.96, not two. (Even 1.96 has some amount of rounding.)
The 95% for a confidence interval is a separate issue. A 95% confidence interval means that, if you took new samples from your population over and over, if you follow the procedure to calculate a 95% confidence interval, 95% of calculated confidence intervals will contain the true population value.
The area under the $2$ standard deviation (std) according to the z table is $0.9772$.
So, the area between $-2$ std and $+2$ std is $$0.9772 - (1-0.9772) = 0.9772-0.0228 = 0.9544,$$ which might be more accurate than the $0.95$.
But commonly, the $\pm 2$ std area is considered as the $95\%$ area according to the empirical rule.