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Chapter 7

Estimates

What are Estimates?
What are Estimates?
It isn't easy to measure a parameter such as the mean height or the mean weight of a population. So, we draw samples from the population and calculate ...
Sample Proportion and Population Proportion
Sample Proportion and Population Proportion
Collecting samples or responses from an entire population takes significant time and effort, so a researcher collects responses from only a sample of that ...
Confidence Intervals
Confidence Intervals
An unbiased point estimate is often insufficient to predict a population estimate, such as population mean or population proportion. In this scenario, a ...
Confidence Coefficient
Confidence Coefficient
The confidence coefficient is also known as the confidence level or degree of confidence. It is the percent expression for the probability, 1-α, that ...
Interpretation of Confidence Intervals
Interpretation of Confidence Intervals
A confidence interval is a better estimate of the population than a point estimate, as it uses a range of values from a sample instead of a single value. ...
Critical Values
Critical Values
A critical value is a definite value obtained from a particular probability distribution at a predecided confidence level (or a predecided significance ...
Margin of Error
Margin of Error
The margin of error is also called the maximum error of an estimate. The margin of error is the maximum possible or expected difference between the ...
Sample Size Calculation
Sample Size Calculation
Knowledge of the sample size is the first requirement to conduct random sampling or an experiment. The sample size is the total number of units, ...
Estimating Population Mean with Known Standard Deviation
Estimating Population Mean with Known Standard Deviation
To construct a confidence interval for a single unknown population mean μ, where the population standard deviation is known, we need sample mean as ...
Estimating Population Mean with Unknown Standard Deviation
Estimating Population Mean with Unknown Standard Deviation
In practice, we rarely know the population standard deviation. In the past, when the sample size was large, this did not present a problem to ...
Confidence Interval for Estimating Population Mean
Confidence Interval for Estimating Population Mean
A point estimate of the population mean is obtained from a single sample. Such a point estimate does not represent a population well because it needs to ...
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