Lecture 4 2010 - I. II. A. B. Introduction

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
1 I. Introduction II. Statistical and Notational Preliminaries A. Introduction B. Elements of Statistical Theory 1. Prerequisites: ± Rd Vib l Random Variables ± Distributions: Population vs. Sample ± Descriptive Measures ± Estimation ± Sampling distributions. ± Inference: CIs and Hypothesis Testing. Today The population distribution from which I drew your samples. Any concerns? $3,473,078 Y σ = $2,581,563 Y μ = Experiment: Sampling Distribution for samples from population of 2003 MLB ball players. Will the sampling distribution be normally distributed for n = 36? Why? Characterize the n = 36 sampling distribution. 1. Shape: 2. Center: 3. Variation: $3,473,078 9 Y Y n == μ Y = $2,581,563. It will be normally distributed.
Background image of page 1

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

View Full DocumentRight Arrow Icon
2 0.0000005 0.0000006 Sampling Distribution for Mean 2003 MLB Salaries, n=36. $2,581,563 Y Y μ == ( 1.645 1.645 ) 0.90 YY PY μσμσ −⋅ < < +⋅ = $3,473,078 $578,846 36 Y Y n σ = 0 0.0000001 0.0000002 0.0000003 0.0000004 $0 $1,000,000 $2,000,000 $3,000,000 $4,000,000 $5,000,000 $1,629,361 $3,533,765 Example: Confidence Interval Estimation – Assume no knowledge of population standard deviation. Draw a sample.
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 12/08/2011 for the course ECON 312 taught by Professor Daniellass during the Winter '10 term at UMass (Amherst).

Page1 / 4

Lecture 4 2010 - I. II. A. B. Introduction

This preview shows document pages 1 - 3. Sign up to view the full document.

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