one sample inference review noteshells

# one sample inference review noteshells - One-Sample...

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1 Inference Review 1 One-Sample Inference Review Portions of Chapters 8-9 (e-book only) Inference Review 2 One-Sample Inference h During the last half of your prerequisite course (STA2023 on campus), you would have covered basic confidence interval estimates and hypothesis tests. h We will review these quickly by looking at several examples. h A detailed explanation of each one is on the MyStatLab site.

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2 Inference Review 3 Confidence Intervals h An interval estimate is a range of values for some population parameter, for example: 133 < μ < 163. h The interval is derived using probability from some distribution. If, for example, .95 probability is used, we call the result a 95% confidence interval . Inference Review 4 Symmetric intervals h Many intervals have a symmetric form and can be stated: point estimate ± ME h Here point estimate is our “best guess” of the population parameter’s value and ME is the estimator’s margin of error.
3 Inference Review 5 Example 1: Patient Expenses h Administrators at St. Regis Hospital want to know the average amount spent on medical expenses for patients admitted last year. h Past studies have shown that the standard deviation per patient was about \$500. h From last year’s admissions, a sample of 200 patients had an average expense of \$5230. h Use this info to make a 90% interval estimate. Inference Review 6 Interval when σ is known We will use for the sample mean and n for the sample size. Interval is: ( Z is a value from the standard normal distribution.) n z X σ ± X

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4 Inference Review 7 Computations h Interval: h Interpretation: Inference Review 8 Using PhStat
5 Inference Review 9 Need more help? h

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## This note was uploaded on 02/14/2011 for the course QMB 3250 taught by Professor Thompson during the Spring '08 term at University of Florida.

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one sample inference review noteshells - One-Sample...

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