{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Lecture27[1] - Lecture 27 Central Limit Theorem Sections...

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

View Full Document Right Arrow Icon
Central Limit Theorem Sections 7.3 & 7.5 Lecture 27
Image of page 1

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

View Full Document Right Arrow Icon
Point Estimation Suppose we are given the following dataset: Salary &Training Status for EAI Managers Annual Salary Training Program Annual Salary Training Program $49,094.30 Yes $55,924.00 Yes $53,263.90 Yes $49,092.30 Yes $49,643.50 Yes $57,268.40 No $49,894.90 Yes $55,688.80 Yes $47,621.60 No $51,564.70 No
Image of page 2
Point Estimation Suppose we would like to know the average annual salary and standard deviation for EAI managers, but we do not have the salaries for ALL managers. Therefore, we would need to estimate that average. The same would apply if we wanted to find what proportion of managers completed the training program. Remember we discussed early in class that we could estimate μ with x
Image of page 3

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

View Full Document Right Arrow Icon
Point Estimation Sample Mean: Sample Standard Deviation: Sample Proportion: 519,056.40 10 i x x n $51,905.64 2 ( ) 1 i x x s n $75.94 3 10 x p n 0.3
Image of page 4
Point Estimation Sample Statistic A value used to estimate a population parameter.
Image of page 5

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

View Full Document Right Arrow Icon
Image of page 6
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern