Class Meeting 11

Class Meeting 11 - CHEN 3010 Applied Data Analysis Class...

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CHEN 3010 Applied Data Analysis Class Meeting #11 Tuesday, Oct. 5 th Today's Topics Reading for Thursday: pages 146-161 Homework #5 due Thursday Questions? - Feedback on the test Statistical Inference Point Estimation Hypothesis Testing Workshop on hypothesis testing -- Type I and Type II errors
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4-1 Statistical Inference The field of statistical inference consists of those methods used to make decisions or draw conclusions about a population . •These methods utilize the information contained in a sample from the population in drawing conclusions.
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4-2 Point Estimation
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Point estimation Estimates of population (distribution) parameters for example: µ and 2 σ normal distribution (or log-normal) p binomial distribution λ Poisson/exponential distributions , αβ gamma or Weibull distributions Given data, estimate values of these parameters. Then, use the estimates with the distributions to compute probabilities, make predictions, etc. A point estimate is a single, numerical value of a statistic. Example: x is single value of the statistic X and a point estimate of
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Different estimators for µ sample average: x median: x mode,
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Class Meeting 11 - CHEN 3010 Applied Data Analysis Class...

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