Statistics_7_2 - Chapter 7: Confidence Intervals and Sample...

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Chapter 7: Confidence Intervals and Sample Size Confidence Intervals for the Mean When σ is Known. Confidence Intervals for the Mean When σ is Unknown.
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Confidence Intervals for the Mean When σ is Known: A point estimate is a specific numerical value estimate of a parameter. The best point estimate of the population mean μ is the sample mean g . Three Properties of a Good Estimator 1. The estimator should be an unbiased estimator . That is, the expected value or the mean of the estimates obtained from samples of a given size is equal to the parameter being estimated. 2. The estimator should be consistent. For a consistent estimator , as sample size increases, the value of the estimator approaches the value of the parameter estimated. 3. The estimator should be a relatively efficient estimator . That is, of all the statistics that can be used to estimate a parameter, the relatively efficient estimator has the smallest variance.
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An interval estimate
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Statistics_7_2 - Chapter 7: Confidence Intervals and Sample...

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