STAT 311 Study Guide - Final Guide: Statistical Process Control, Point Estimation, Bias Of An Estimator
Document Summary
Point estimation is making some estimation about a larger characteristic of a large population using sampling techniques. company specializing in residential road surfacing. Many of its clients seek out its specialized product; low noise pavement. Recycles rubber can be added to asphalt mixtures to reduce road noise, which appeals to environmentally conscious clients. However, the viscosity must be maintained within very tight limits. During the manufacture of each batch of asphalt, the quality control specialist takes 15 samples of the material and tests the viscosity. This also ensures the batch has uniform viscosity. There is no way to test every ounce of asphalt (population). From those samples hwp must then make inferences about the entire batch. The inferences made using samples are by definition incomplete: therefore the sample characteristics will always have some error built in. The sample mean will have its own distribution.
