07 Sampling Slides

An unbiased statistic is one whose mean value from

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Unformatted text preview: ution of all possible samples values of the statistic that could be drawn from the population under the specified sampling plan !   An unbiased statistic is one whose mean value from all possible distinguishable samples under the sampling plan is equal to the parameter it estimates !   The Central Limit Theorem holds that is the sample is large enough, the distribution of the sample means will be normal !   Normal Distribution: Bell-shaped and symmetrical in appearance. Mean, median, and mode are identical. 4 BMKT 312 Sampling Slides 10/23/13 Definitions !   Parameter: Characteristic of the target population !   Statistic: Characteristic as measured in the sample. !   Precision Level: Maximum permissible difference between statistic and parameter. !   Confidence Level: Probability that a measurement interval will include parameter. Determining Sample Size !   What are we measuring? !   Mean? !   Proportion? Sample Size for Estimating Mean z2 n = __ (est σ2) r2 z = z Statistic r = precision desired (H) σ2 = population variance 5 BMKT 312...
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This note was uploaded on 02/13/2014 for the course BMKT 312 taught by Professor Surajcommuri during the Fall '13 term at SUNY Albany.

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