# day14 - Recall We estimate the population mean μ with the...

This preview shows pages 1–4. Sign up to view the full content.

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

View Full Document

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

View Full Document
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Recall : We estimate the population mean μ with the sample mean ¯ x . This is called the point estimate of μ . Now : We develop an interval estimate of μ . • Takes the form ¯ x ± margin of error • Provides information about how close the point estimate ¯ x is to the value of the population parameter μ . We will consider two cases: 1. σ known 2. σ unknown Population Mean: σ Known Generally, σ is unknown. But in some cases we may assume σ is known. Example : A random sample of 120 students admitted to the top business schools yielded an average GPA of 3.37. Past data suggests that σ = 0 . 28. The point estimate of the population mean μ : 1 What is the sampling distribution of ¯ x ? • Mean: • Standard deviation σ ¯ x : • Shape: What is the probability that ¯ x is between μ- 1 . 96 σ ¯ x and μ + 1 . 96 σ ¯ x ? We will take 1 . 96 σ ¯ x to be our margin of error. In our example the margin of error is: 2 Our interval estimate for this example is: ¯ x ± margin of error...
View Full Document

### Page1 / 5

day14 - Recall We estimate the population mean μ with the...

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document
Ask a homework question - tutors are online