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    Lecture 4

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    Ashar Zia
    Point estimation produces a single value estimate of an unknown population parameter using sample data. Interval estimation uses sample data to calculate a range of possible values for an unknown population parameter within a given probability, known as the confidence interval. The confidence interval indicates how reliable the estimate is and is calculated from the observed sample data, with endpoints referred to as the upper and lower confidence limits.

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    Lecture 4

    Uploaded by

    Ashar Zia
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    Point estimation produces a single value estimate of an unknown population parameter using sample data. Interval estimation uses sample data to calculate a range of possible values for an unknown population parameter within a given probability, known as the confidence interval. The confidence interval indicates how reliable the estimate is and is calculated from the observed sample data, with endpoints referred to as the upper and lower confidence limits.

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    Point estimation produces a single value estimate of an unknown population parameter using sample data. Interval estimation uses sample data to calculate a range of possible values for an unknown population parameter within a given probability, known as the confidence interval. The confidence interval indicates how reliable the estimate is and is calculated from the observed sample data, with endpoints referred to as the upper and lower confidence limits.

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    © All Rights Reserved
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    7 views15 pages

    Lecture 4

    Uploaded by

    Ashar Zia
    Point estimation produces a single value estimate of an unknown population parameter using sample data. Interval estimation uses sample data to calculate a range of possible values for an unknown population parameter within a given probability, known as the confidence interval. The confidence interval indicates how reliable the estimate is and is calculated from the observed sample data, with endpoints referred to as the upper and lower confidence limits.

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    © All Rights Reserved
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    Download as docx, pdf, or txt
    of 15

    Point Estimation vs.

    Interval Estimation

    The two main types of estimators in statistics are point estimators and interval
    estimators. Point estimation is the opposite of interval estimation. It produces
    a single value while the latter produces a range of values. A point estimator is
    a statistic used to estimate the value of an unknown parameter of a
    population. It uses sample data when calculating a single statistic that will be
    the best estimate of the unknown parameter of the population.

    On the other hand, interval estimation uses sample data to calculate the
    interval of the possible values of an unknown parameter of a population. The
    interval of the parameter is selected in a way that it falls within a 90% or
    higher probability, also known as the confidence interval. The confidence
    interval is used to indicate how reliable an estimate is, and it is calculated from
    the observed data. The endpoints of the intervals are referred to as the upper
    and lower confidence limits.
    Example: Proportion of Dog Owners

    At the beginning of the Spring 2017 semester a representative sample of 501 STAT
    200 students were surveyed and asked if they owned a dog. The sample proportion
    was 0.559. Bootstrapping methods, which we will learn later in this lesson, were used
    to compute a standard error of 0.022. We can use this information to construct a
    95% confidence interval for the proportion of all STAT 200 students who own a dog.

    0.559 ± 2(0.022)
    0.559 ± 0.044
    [0.515, 0.603]
    I am 95% confident that the population proportion is between 0.515 and 0.603.

    Example: Mean Height


    In a random sample of 525 Penn State World Campus students the mean height was
    67.009 inches with a standard deviation of 4.462 inches. The standard error was
    computed to be 0.195. Construct a 95% confidence interval for the mean height of
    all Penn State World Campus students.
    95% confidence interval:

    67.009 ± 2(0.195)
    67.009 ± 0.390
    [66.619, 67.399]
    I am 95% confident that the mean height of all Penn State World Campus students is
    between 66.619 inches and 67.399 inches.
    Statistics problems and practice by Shahid Jamal (Book)

    Insert
    Comparison of Two Population Proportions

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