ConfidInterval1

ConfidInterval1 - STATISTICAL INFERENCE STATISTICAL...

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Unformatted text preview: STATISTICAL INFERENCE STATISTICAL INFERENCE Example Example A large utility company has 650,000 residential customers. Annually, a sample of 400 customers is selected to measure customer satisfaction. Customers rate satisfaction as either satisfied or unsatisfied . The company wants to know what proportion of the 650,000 customers are satisfied . 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 ) 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 - population average The symbol is the Greek letter mu. Review Example Review Example In our example, we might define p = proportion of customers in the population of 650,000 customers who are satisfied . Sample A subset of items selected from a...
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This note was uploaded on 03/16/2009 for the course ECN 221 taught by Professor Roberts during the Spring '07 term at ASU.

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ConfidInterval1 - STATISTICAL INFERENCE STATISTICAL...

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