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Unformatted text preview: Lecture 8 Statistical Inference: Estimation Statistical Inference: Estimation for Single Populations for Single Populations Learning Objectives Know the difference between point and interval estimation Estimate a population mean from a sample mean when is known Estimate a population mean from a sample mean when is unknown Estimate the minimum sample size necessary to achieve given statistical goals Statistical Estimation Consider a population with mean and standard deviation How do we estimate ? Select a random sample of size n Use a statistic constructed from the sample as estimator, e.g. Statistical Estimation What justifies this particular statistic as suitable estimator? Attractive properties: Unbiasedness: Consistency: 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 Confidence Interval to Estimate Using the z Statistic ( known)...
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This note was uploaded on 04/14/2010 for the course ECMT 1010 taught by Professor Vadimtimovsky during the Three '10 term at University of Sydney.
 Three '10
 VadimTimovsky

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