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ConfidInterval1

ConfidInterval1 - STATISTICAL INFERENCE Example A large...

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1 STATISTICAL INFERENCE STATISTICAL INFERENCE
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2 Example Example A large utility company has 650,000 residential customers. Annually, a sample of 400 customers is selected to measure customer satisfaction.
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3 Customers rate satisfaction as either satisfied or unsatisfied . The company wants to know what proportion of the 650,000 customers are satisfied .
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4 Definitions Definitions Population A set of items that one wants to investigate Example: All 650,000 residential customers Variable Information of interest about each item in the population Example: “Satisfaction” ( satisfied or unsatisfied )
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5 Parameter Numerical quantity that describes a characteristic of a population Unknown unless every item in the population is measured Parameters are represented with symbols, e.g., p - population proportion μ - population average The symbol μ is the Greek letter “mu”.
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6 Review Example Review Example In our example, we might define p = proportion of customers in the population of 650,000 customers who are satisfied .
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7 Sample
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