STAT 3005 Lecture Notes - Lecture 3: Simple Random Sample, Dependent And Independent Variables, Minitab
31 Jan 2018
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Document Summary
Statistical inference allows us to answer questions regarded data collected with confident intervals and hypothesis/significance testing. Confidence intervals rely on an estimate value from a sample. Using this estimate, we give a measurement of our uncertainty in our estimate called the margin of error. We use the estimate and margin of error to form an interval that may or may not contain the true value. Play a huge role in statistics by aiding in long, tedious computations. You must understand what the software is telling you. Software cannot make decisions and interpret results that"s left for the statistician: example: minitab, jmp, sms, etc. Available/historical data relies on using historical data for a period of time to help answer a present question. However, these data are usually less than optimal for research goals in many cases. This is usually very expensive, but easy to obtain.
