Exam 3 review

# Exam 3 review - Discussion Section 227 Exam 3 Review...

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

Discussion Section 227 11/30/10 Exam 3 Review – Selected Topics Point estimates vs. interval estimates Estimates of population parameters can be either point estimates or interval estimates. A point estimate (e.g. sample mean) is precise but likely inaccurate An interval estimate is less precise but likely more accurate. It is a range of sample statistics we could expect to have if we repeatedly conducted hypothesis tests using samples from our population. Confidence interval : an interval estimate based on our sample mean that includes the population mean a certain percentage of the time (e.g. 95%) if we were to sample from the same population repeatedly. Example 1: Calculating confidence intervals in a Z distribution μ = 72, σ = 10, M = 75, n = 40; we want to calculate a 95% confidence interval around this mean. 1. Draw a sampling distribution and put the sample mean in the middle. Write the percentage area under the curve.

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

View Full Document
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

### What students are saying

• As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

Kiran Temple University Fox School of Business ‘17, Course Hero Intern

• I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

Dana University of Pennsylvania ‘17, Course Hero Intern

• The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

Jill Tulane University ‘16, Course Hero Intern