Final Review.pptx - Final Chapters 10,11 16 Chapter 10 Learning Outcomes Estimation Point Estimate Confidence Interval Estimate Qualities of Estimators

Final Review.pptx - Final Chapters 10,11 16 Chapter 10...

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FinalChapters 10,11, 16
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Chapter 10Learning OutcomesEstimationPoint EstimateConfidence Interval EstimateQualities of EstimatorsUnbiasedConsistencyEfficiencyCalculate Sample Size
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Estimation…The objective of estimation is to determine the approximate valueof a population parameter on the basis of a sample statistic.There are two types of estimators:Point EstimatorInterval Estimator10.3
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Estimating when is known…The interval can also be expressed asLower confidence limit =Upper confidence limit =The probability 1 – α is the confidence level, which is a measure of how frequently the interval will actually include µ.10.4nzx2/nzx2/
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Interval Width…The width of the confidence interval estimate is a function of the confidence level, the population standard deviation, and the sample sizeA larger confidence levelproduces a w i d e rconfidence interval.
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