As sample size increases, width of the confidence interval decreases
As confidence level is decreased, width of the confidence interval decreases
Population –
the total collection of elements of interest in a given study
Parameter
a number that provides a quantitative description of some characteristic of a
population
Sample –
a subset of population
Statistic 
a numerical quantity that provides information concerning some characteristic of a
sample
Statistical inference
: The use of
sample
information to infer something about
populations
.
Variable
: A measurable characteristic that takes on different values.
Observation
: A recorded value of a variable for a particular individual.
Data:
a set of observations
Discrete variables
: Variables which take on only isolated values.
Continuous variables
: Variables that take on values in a
continuum
(e.g., an interval of numbers)
Range:
maxmin
Interquartile Range (IQR):
75
th
quantile  25
th
quantile
If normal curve fits well then approx 68% of data is within 1 SD, 95%, 2 SD, 99.5%  3
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.
 Spring '07
 Lv
 Business, Normal Distribution, Interest, Statistical hypothesis testing, 68%, confidence interval decreases, zts

Click to edit the document details