Week 2 Flashcards
Normal curves
when curves are symmetrical, unimodal, and bell-shaped
The 68-95-99.7 rule
Approximately 68% of the observations fall within σ and the mean μ
Approximately 95% of the observations fall within 2 σ of μ
Approximately 99.7% of the observations fall within 3 σ of μ
Cumulative proportion
is the proportion of observations that lie below or at a given value.
Find the proportion from X
o Standardize, Subtract the mean, then divide by the standard deviation, to transform the problem about X into a problem about a standard Normal Z
statistical inference
When you we infer conclusions about the wider population based on a sample
parameter (p)
is a number that describes the population. It is a fixed number but in practise we don’t know its value (e.g u and o)
statistic (p ̂)
is a number that describes a sample. The value is known because we took the sample. We often use a statistic to estimate an unknown parameter (X bar and sx)
sampling variability
the value of a statistic varies in repeated random sampling
sampling distributions
of a statistic is the distribution of values taken by the statistic in all possible samples of the same size from the same population
Bias
concerns the centre of the sampling distribution
Unbiased estimator
When the centre lies at the true value of the parameter
Margin error
is a numerical measure of the spread of a sampling distribution. It can be used to set bounds on the size of likely error in using the statistic as an estimator of a population parameter
To reduce bias
use random sampling
To reduce variability
use a large sample. You can make the variability as small as you want by taking a large enough sample