Lecture22 - ECO220Y Lecture 22 Introduction to Estimation...

Info iconThis preview shows pages 1–5. Sign up to view the full content.

View Full Document Right Arrow Icon
ECO220Y Lecture 22 CO220 ectu e 22 Introduction to Estimation (2) Migiwa Tanaka Readings: pp.305-307, section 10.2 1
Background image of page 1

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

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

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

View Full DocumentRight Arrow Icon
hoice of Confidence Level Choice of Confidence Level Higher 1- α able10.1: Four Most Commonly Used 1- αα α /2 z α /2 More/Less confidence in your estimate Table10.1: Four Most Commonly Confidence Interval and z α /2 .90 .10 .05 z .05 =1.645 .95 .05 .025 z .025 =1.96 8 2 1 2 33 Wider/Narrower interval More/Less Information .98 .02 .01 z .01 =2.33 .99 .01 .005 z .005 =2.575 The most commonly used confidence level among economists is 1- α =.95.
Background image of page 4
Image of page 5
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 03/01/2011 for the course ECON 220 taught by Professor Tanaka during the Spring '11 term at University of Toronto- Toronto.

Page1 / 9

Lecture22 - ECO220Y Lecture 22 Introduction to Estimation...

This preview shows document pages 1 - 5. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online