Chapters 6 & 7 Flashcards
Statistical Inference
A procedure by which we use information from a sample to reach conclusions about a population. 2 general areas: Estimation and Hypothesis Testing
Estimation
Uses sample data to calculate a statistic.
Sampled Population
The population from which you draw your sample
Target Population
The population you wish to make an inference about; the population you wish to generalize your results to
Point Estimate
A single numerical value used to estimate the corresponding population parameter
Interval Estimate
A range of values (with a lower and upper bound) constructed to have a specific probability (or confidence) of including the population parameter
Estimator
The rule that tells us how to compute the estimate
Estimate
A single computed value
Precision of the Estimate (Margin of Error)
Reliability Coefficient times Standard Error
Reliability Coefficient
Z or T value when finding CI
Probabilistic Interpretation
In repeated sampling of a normal distribution population with a known s.d., 100(1-alpha) percent of all intervals will in the long run include the population mean.
Practical Interpretation
When sampling a normally distributed population with a known s.d., we are 100(1-alpha) percent confident that the single computed interval will contain the population mean
Z Values for 90, 95, and 99% CIs
90 = 1.645, 95 = 1.96, 99 = 2.58
T-Statistic
the result of using s instead of sigma is a distribution with a s.d. > 1, so it is not normal. The resulting distribution is the t-distribution
Degrees of Freedom (df)
the number of independent pieces of information that go into the estimate.