MGMT305-Lec5

# Mgmt305 lec5

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Unformatted text preview: Chapter 8 Interval Estimation s s s Interval Estimation of a Population Mean • σ Known Case • Large Sample (n ≥ 30) • Small Sample (n < 30) • σ Unknown Case • Large Sample (n ≥ 30) • Small Sample (n < 30) x Determining the Sample Size µ Interval Estimation of a Population Proportion [--------------------- x ---------------------] [--------------------- x ---------------------] [--------------------- x ---------------------] Slide 1 Summary of Confidence Interval Estimation Procedures for a Population Mean Slide 2 Margin of Error and the Interval Estimate A point estimator cannot be expected to provide the A point estimator cannot be expected to provide the exact value of the population parameter. exact value of the population parameter. An interval estimate can be computed by adding and An interval estimate can be computed by adding and subtracting a margin of error to the point estimate. subtracting a margin of error to the point estimate. Point Estimate + Margin of Error Motivation for Interval Estimation: Motivation for Interval Estimation: The purpose of an interval estimate is to provide The purpose of an interva...
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