One Proportion Z Intervals and Tests

Definition

This term refers to statistical methods used to estimate a population proportion or test hypotheses about it, based on a single sample. It involves calculating confidence intervals and conducting hypothesis tests using the standard normal distribution.

Analogy

Imagine you have a bag of 100 candies, and you want to know what proportion of them are red. You randomly select 30 candies from the bag, count how many are red, and use that information to estimate the proportion of red candies in the entire bag.

Related terms

Confidence Interval: A range of values that is likely to contain the true population parameter with a certain level of confidence.

Hypothesis Test: A statistical procedure used to make decisions about population parameters based on sample data.

Standard Normal Distribution: A symmetric bell-shaped curve with mean 0 and standard deviation 1, often used in hypothesis testing and constructing confidence intervals.