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Lecture1

# Each observaon xi is then a random variable following

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Unformatted text preview: (all tax return forms of the U.S. in a year) •  –  Sample: a subset of a popula\$on that is actually observed Variables / data –  Variables: measurable proper\$es / aWributes associated with each unit (change in tax paid) •  –  Data: a collec\$on of measured values of variables Parameter / sta\$s\$c –  Parameter: a numerical characteris\$c of a popula\$on for a speciﬁc variable (average change in tax paid per tax return form) –  Sta\$s\$c: a numerical func\$on of the sample data, used to make inference about the unknown parameter Stat 431 7 A Random Sample Paradigm •  Connec\$on to probability –  The values of variables in popula\$on are usually modeled by some probability distribu\$on F with some unknown parameter θ . –  Each observa\$on Xi is then a random variable following distribu\$on F . •  n A random sample of size refers to a set of RV’s...
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