Lecture 10_point and interval estimation

Lecture 10_point and interval estimation - Point and...

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9/27/2010 1 Point and Interval Estimation 1 Review • Inferential statistics are concerned with forming inferences that extend beyond the immediate sample data to make conclusions about unknown parameters in the larger population • Sample statistics are estimated to provide the best numerical summary of any particular aspect in the population 2 Review • The goal of inferential statistics is to make generalizations from sample statistics to population parameters – Thus if all population parameters are known, inferential statistics are not needed • Most social science research does not have population level information however… just observations from samples 3

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9/27/2010 2 Statistical Estimation • Process of using known sample statistics to make educated guesses about value of unknown population parameters • The goal of statistical point estimation is to find and identify the right parameter as accurately as possible given a model (i.e., a function) applied to the sample data 4 Point Estimation • Estimate a single best number (the sample statistic) to gauge the value of a population parameter – e.g. estimate the population mean by using the sample mean, and/or estimate the population standard deviation by using the sample standard deviation • Gives no information about how close the
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Lecture 10_point and interval estimation - Point and...

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