Interval%20Estimation%20from%20Sample%20Data-3

# Interval%20Estimation%20from%20Sample%20Data-3 - Click to...

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Unformatted text preview: Click to edit Master subtitle style 4/24/11 Interval Estimation from Sample Data 4/24/11 Introduction A Point Estimate of a population parameter is a single number that estimates the exact value of population parameter. The point estimate is calculated from sample. The Estimator is the random variable whose value will be the point estimate. An Interval Estimate includes a range of possible values that are likely to include the actual parameter. 4/24/11 Unbiased Point Estimates Population Sample Parameter Statistic Formula • Mean, µ • Variance, σ2 x x = x i ∑ n 1 – 2 ) – ( 2 2 n x i x s ∑ = p p = x successes n trial s 4/24/11 CI estimates for µ, is known σ = sample mean σ = population standard deviation n = sample size z = standard normal score for area in tail = α /2 O bj1 4 A s s u m p t i o n s : T h e p o p u l a t i o n d i s t r i b u t i o n i s n o r m a l ( o r n ≥ 3 ) , is kn ow n. σ 4/24/11...
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Interval%20Estimation%20from%20Sample%20Data-3 - Click to...

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