Statistics Chapter 8: Confidence Intervals Flashcards
1
Q
point estimate
A
single number that is our best guess for the parameter
2
Q
interval estimate
A
interval of numbers within which the parameter value is believed
3
Q
confidence interval
A
contains the most believable values for a parameter; the probability that this method produces an interval that contains the parameter is called the confidence level
4
Q
margin of error
A
measures how accurate the point estimate is likely to be in estimating a parameter
5
Q
standard error
A
estimated standard deviation of a sampling distribution
