NOTES_Chapter 10_Introduction to Estimation

NOTES_Chapter 10_Introduction to Estimation - Chapter 10:...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter 10: Introduction to Estimation 10.1 Concepts of Estimation Point and Interval Estimators o We can use sample data to estimate a population parameter in two ways. A point estimator draws inferences about a population by estimating the value an unknown parameter using a single value or point Compute the value of the estimator and consider that value as the estimate of the parameter Drawbacks: o Visually certain that the estimate will be wrong (0 chance value will be exact) o We need to know how close the estimator is to the parameter o In drawing inferences about a population, it is intuitively reasonable to expect that a large sample will produce more accurate results An interval estimator draws inferences about a population by estimating the value of an unknown parameter using an interval Have the capacity to reflect the effects of larger sample sizes o An unbiased estimator of a population parameter is an estimator whose expected value is equal to that parameter
Background image of page 1

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

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 2

NOTES_Chapter 10_Introduction to Estimation - Chapter 10:...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online