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Unformatted text preview: Review of Statistics Basic concepts • Population – Group of interest. • Random variable – variable/feature of interest (about the population). It may differ for every individual, therefore, it is called a variable and it has a distribution that can be characterized by the mean and variance (or standard deviation). • Random Sample – Choose a small set of the population consisting of n individuals (randomly chosen) and collect values of the random variable for those individuals. Then, the sample will be of size n . Population Random Variable Sample Students in the U.S Heights Students at UCLA Professors in the U.S. Salaries Professors at UCLA Students taking Econ 103 at UCLA Grades Students enrolled in sections 1C and 1D There are three things to do: 1. Estimation 2. Hypothesis Testing 3. Confidence Intervals Why? Typically, the distribution of the random variable is not known for the population. Therefore, the moments of the distribution are estimated using random samples. Estimation Moments Let the random variable be denoted by Y ....
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This note was uploaded on 10/23/2010 for the course STATISTICS 2 taught by Professor Ramirez during the Winter '09 term at USC.
- Winter '09