What Is a Standard Error-ECO6416

# What Is a Standard Error-ECO6416 - What Is a Standard Error...

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What Is a Standard Error? For statistical inference, namely statistical testing and estimation, one needs to estimate the population's parameter(s). Estimation involves the determination, with a possible error due to sampling, of the unknown value of a population parameter, such as the proportion having a specific attribute or the average value μ of some numerical measurement. To express the accuracy of the estimates of population characteristics, one must also compute the standard errors of the estimates. These are measures of accuracy that determine the possible errors arising from the fact that the estimates are based on random samples from the entire population, and not on a complete population census. Standard error is a statistic indicating the accuracy of an estimate. That is, it tells us to assess how different the estimate (such as ) is from the population parameter (such as μ ). It is therefore, the standard deviation of a sampling distribution of the estimator such as . The

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What Is a Standard Error-ECO6416 - What Is a Standard Error...

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