Answer to Question #39961 in Statistics and Probability for Precht
I realise that my question is quite simplistic for this site but I will ask anyway. I am wondering if Percentage results become more unreliable the smaller the group is(I am not referring to a sample of the group rather questioning the whole group). If yes, is there a way to determine that? For example 5% of the 30 people that received a direct-sales call hang up the phone = Does that mean that 30% of 8 people called would be expected to hang up? or is the percentage unreliable the smaller the number which is my main question? I hope that this was clear enough. Thank you very much
Your thought that the reliability of p^ is reduced for small p is correct. Consider the case of a sample of a single person. You can build a Binomial confidence interval around p^ - it's determined only by the number of 'successes' and the number of total events (n). This confidence interval will reflect the uncertainty caused by the finite size of the sample - the smaller n is, the larger the interval will become.
Hi Expert, so I wasn't able to try the new version because they closed of the submission portal. Oh well,
but I want to give you my sincerest thank you for helping me throughout this assignment! Honestly, you are an absolute legend! Your line by line explanation was superb and honestly helped me understand most of the concept I learnt during my semester better than my own lecturer! Thank you for consistently helping and being persistent with the versions!
You've honestly been the greatest help and I would have been so lost if it wasn't without your expertise!
So thank you once again!