STAT211 Chapter Notes - Chapter 8: Confidence Interval, Simple Random Sample, Normal Distribution

• School: University of Waterloo
• Department: Statistics
• Course: STAT211
• Professor: Joslin Goh

Document Summary

Note: never create ci for a statistic, only for parameters. Point estimate: value of the sample proportion; a single value that is an estimate of a parameter. Point estimate alone is not considered to be sufficient information; a measure of uncertainty with the estimate is required o. Does not provide any indication of how close the estimate is likely to be the true value of the parameter. Confidence level: probability the interval we calculate will capture the true value of the parameter. We are 95% confident that the true (population) parameter is contained within the 95% confidence interval. Margin of error: critical value, standard error: from sampling distribution. Assumptions when creating a ci interval: the sample data must be a simple random sample from the population of interest, the population must be normally distributed. The population mean is unknown, but the population standard deviation (or variance) is known.