07 Sampling Slides

# An unbiased statistic is one whose mean value from

This preview shows page 1. Sign up to view the full content.

This is the end of the preview. Sign up to access the rest of the document.

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...
View Full Document

## 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.

Ask a homework question - tutors are online