IntroStat-notes 11-26-07

# IntroStat-notes 11-26-07 - (or interval estimate is a...

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-the two major applications of inferential statistics involve the use of sample data to 1.) estimate the value of a population parameter, and 2.) test some claim (or hypothesis) about a population -how to estimate population parameters: proportions, means, and variances -how to determine necessary sample sizes -requirements for estimating a population proportion 1.) simple random sample 2.) binomial distribution 3.) there are at least 5 successes and 5 failures -a point estimate is a single value (or point) used to approximate a population parameter -the sample proportion [p-hat] is the best point estimate of the population proportion p -a confidence interval
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Unformatted text preview: (or interval estimate ) is a range (or an interval) of values used to estimate the true value of a population parameter. A confidence interval is sometimes abbreviated as CI-a confidence level is the probability 1-[alpha] (often expressed as a percent) that is the proportion of times that the confidence interval actually does contain the population parameter (also called the degree of confidence , or the confidence coefficient )-most common choices are 90%, 95%, or 99%-a critical value is the number on the borderline separating sample statistics that are likely to occur from those that are unlikely to occur...
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