{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

# Lecture22 - ECO220Y Lecture 22 Introduction to Estimation(2...

This preview shows pages 1–6. Sign up to view the full content.

ECO220Y Lecture 22 Introduction to Estimation (2) Migiwa Tanaka Readings: pp.305-307, section 10.2 1

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

View Full Document
Estimation of μ when σ 2 is known (Continued from Lecture 21) Interval Estimator Selecting Sample Size 2
Determinants of Confidence Interval 1- Confidence Interval Estimator: z X 2 / What will happen to CI if n Sample size n increases? Confidence level (1- increases? Population s.d. of X increases? Sample mean increases? Selection bias arises? 3

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

View Full Document
Choice of Confidence Level Higher 1- α Table10.1: Four Most Commonly Used 1- α α α /2 z α /2 More/Less confidence in your estimate Confidence Interval and z α /2 .90 .10 .05 z .05 =1.645 .95 .05 .025 z .025 =1.96 98 02 01 z =2 33 Wider/Narrower interval More/Less Information .98 .02 .01 .01 =2.33 .99 .01 .005 z .005 =2.575 The most commonly used confidence level among 1 95 economists is 1- α =.95. Why don’t we use confidence level =1? 4
Standard Error (Recap) 5 triangle45right The sources of discrepancy between an estimator (sample mean) & parameter (population mean)?

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.

{[ snackBarMessage ]}

### Page1 / 9

Lecture22 - ECO220Y Lecture 22 Introduction to Estimation(2...

This preview shows document pages 1 - 6. Sign up to view the full document.

View Full Document
Ask a homework question - tutors are online