Chapter 8 Estimation

Question 1

Math matical definition of mean squared error?

Answer 1

Where m is number of times you play the game.

Question 2

How do you compute an unbiased estimation of variance from a population?

Answer 2

S²_n-1

where n is the sample size.

(The average error converges to zero for S²_n-1)

Question 3

Define sampling error?

Answer 3

Variation in the estimate caused by random selection

Question 4

How do you quantify sampling error?

Answer 4

We simulate the sampling process with hypothetical values of µ and σ, and see how much x_bar varies.

Question 5

The two common ways to summarize the sampling distribution?

Answer 5

Standard Error

Confidence Interval

Question 6

Standard Error definition

Answer 6

measure of how far we expect the etimate to be off, on average.

Question 7

Confidence Interval (for sampling distribution) definintion?

Answer 7

range that includes a given fraction of the sampling distribution.

Question 8

What is an unbiased estimator of the mean of an exponential distribution?

Answer 8

x_bar