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In this episode of Engineer In Training Exam TV we will reinforce your understanding of Confidence Intervals. We will begin by defining Confidence Intervals and then run through a few example problems.
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why t statistic instead of z statistic?
Hey Chris,
It has to do with the sample size. The t-distribution is used on smaller sample sizes. These samples are typically less than 30. The z-distribution can be used on samples larger than 30. The thing is though, as the sample sizes get larger, the t-distribution becomes virtually identical to the z-distribution, so it’s safe to use the t-stat for both large and small samples sizes. It’s just a way to keep things simple.
I hope that helps.