STAT-1401 Lecture Notes - Lecture 7: Simple Random Sample, Confidence Interval, Statistical Inference
26 Apr 2020
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Note : will not be covered in class, therefore he will not ask about this. The key assumption in statistical inference is that the data come from a random sample or from a randomized experiment. Statistical inference provides methods for drawing conclusions about a population from sample data. The two branches of statistical inference are: A point estimate is a single numerical value used to estimate the corresponding population parameter. This only gives you one value x is the best point estimate of the population mean. Because of variation in the values, a point estimate can take on its own does not give us a lot of information about the value of the parameter. A confidence interval is a way of taking this variability into account. A confidence interval for an unknown parameter is an interval that contains plausible values of the parameter with a specified degree of confidence. The margin of error and confidence interval when.
