HIST 1150 Lecture Notes - Lecture 20: Confidence Interval, Statistic, Standard Deviation
Document Summary
Intro inferential stats: the point of inferential stats is to take what we learn about a sample that we have actually observed, and use that information to generalize to the whole population the same came from. Point estimates: post estimates any single sample statistic used to estimate a population value, ex: rates, ratios, proportions, percentages, measures of central tendency/dispersion. When we know the population standard deviation (not often) When we don"t know the population standard deviation: most common case, sub in sample sd, working with proportions, two choices, 1. When we know the population proportions (this is less common: 2. Set alpha level: this represents the level of risk we are willing to take in potentially being wrong, 95% is the most common confidence level that you will see. If we take a bigger risk that we will be wrong, we can cast a smaller net.
