Loose Ends Chapter 8

Question 1

what is a point estimator

Answer 1

a statistic that provides an estimate of a population parameter

Question 2

what is a point estimate

Answer 2

the value of the point estimator

Question 3

margin of error

Answer 3

tells us how close our point estimate tends to be to the unknown parameter value

Question 4

what is the confidence level c

Answer 4

the overall success rate of the method for calculating confidence

Question 5

what is the statement for confidence intervals?

Answer 5

“we are c% confident that the interval from ___ to ___ captures the actual value of”

Question 6

what is the statement for confidence levels?

Answer 6

95% of all possible samples of a given size from this population will result in an interval that captures the unknown parameter

Question 7

What are the three conditions that need to be met for constructing a confidence interval?

Answer 7

random, normal, independent

Question 8

how do you find independence in confidence intervals

Answer 8

the 10% condition

Question 9

what is the standard error?

Answer 9

basically the standard deviation