Lecture08-Blackboard

# Lecture08-Blackboard - Lecture8 :Estimation...

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Lecture 8 Statistical Inference: Estimation  Statistical Inference: Estimation  for Single Populations for Single Populations

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Learning Objectives Know the difference between point and interval  estimation Estimate a population mean from a sample mean  when  σ  is known Estimate a population mean from a sample mean  when  σ  is unknown Estimate the minimum sample size necessary to  achieve given statistical goals
Statistical Estimation Consider a population with mean  µ  and standard  deviation  σ How do we estimate  µ ? Select a random sample of size n Use a statistic constructed from the sample as  estimator, e.g.

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Statistical Estimation What justifies this particular statistic as suitable  estimator? Attractive properties: Unbiasedness:  Consistency:
Statistical Estimation Point estimate — a single estimate of a  population parameter, based on a sample  statistic  Interval estimate — a range of values  within which the analyst can declare, with  some confidence, the population  parameter lies; also known as the  confidence interval

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