Lecture08-Blackboard - Lecture 8 Statistical Inference...

Info icon This preview shows pages 1–6. Sign up to view the full content.

View Full Document Right Arrow Icon
Lecture 8 Statistical Inference: Estimation  Statistical Inference: Estimation  for Single Populations for Single Populations
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Learning Objectives Know the difference between point and interval  estimation Estimate a population mean from a sample mean  when  σ  is known Estimate a population mean from a sample mean  when  σ  is unknown Estimate the minimum sample size necessary to  achieve given statistical goals
Image of page 2
Statistical Estimation Consider a population with mean  µ  and standard  deviation  σ How do we estimate  µ ? Select a random sample of size n Use a statistic constructed from the sample as  estimator, e.g.
Image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Statistical Estimation What justifies this particular statistic as suitable  estimator? Attractive properties: Unbiasedness:  Consistency:
Image of page 4
Statistical Estimation Point estimate — a single estimate of a  population parameter, based on a sample  statistic  Interval estimate — a range of values  within which the analyst can declare, with  some confidence, the population  parameter lies; also known as the  confidence interval
Image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 6
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern