Chapter 8 Outline

Chapter 8 Outline - CHAPTER 8: INTERVAL ESTIMATION...

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CHAPTER 8: INTERVAL ESTIMATION Objectives: 1. Understand that there are two types of point estimates. 2. Know how to calculate a point estimate for the population mean. 3. Know how to calculate an interval estimate for the population mean when σ is known. 4. Know how to calculate an interval estimate for the population mean when σ is unknown. 5. Know how to calculate a point estimate for the population proportion. 6. Know how to calculate an interval estimate for the population proportion.
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7. Understand the meaning of the confidence interval. 8. Understand how the confidence level or sample size effects the width of the confidence interval and the margin of error. 9. Understand how the confidence level or sample size effects the confidence interval.
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I. Section 8.1: Population Mean: σ Known A. Two Types of Estimates 1. A point estimate consists of a single sample statistic used to estimate the true value of the population parameter (either µ or π). Loyd’s example (page 301):
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Chapter 8 Outline - CHAPTER 8: INTERVAL ESTIMATION...

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