Stats Vocabulary

# Stats Vocabulary - Chapter 7 Confidence Intervals and...

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Chapter 7 Confidence Intervals and Sample Size 1.)Estimation-which is the process of estimating the value of a parameter from information obtained from a sample. 2.)Point Estimation-is a specific numerical value estimate of a parameter. The best point estimate of the population mean MU is the sample mean X-bar. 3.)Estimator-Sample measures used to estimate population measures. 4.)Interval Estimate-of a parameter is an interval or a range of values used to estimate the parameter. This estimate may or may not contain the value of the parameter being estimated. 5.)Confidence Level-of an interval estimate of a parameter is the probability that the interval estimate will contain the parameter, assuming that a large number of samples are selected and that the estimation process on the same parameter is repeated. 6.)Confidence Interval-is a specific interval estimate of a parameter determined by using data obtained from a sample and by using the specific confidence level of the estimate. 7.)Maximum Error of Estimate-is the maximum likely difference between the point estimate of a parameter and the actual value of the parameter. 8.)T-distribution-must be used when the sample size is less than 30 and the variable is normally or approximately normally distributed. 9.)The Degrees of Freedom-are the number of values that are free to vary after a sample statistic has

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Stats Vocabulary - Chapter 7 Confidence Intervals and...

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