Scribd Logo
Upload

Welcome to Scribd!

  • 50 views

    Module 4 Statistical Inference Estimation of Parameters Lesson 1 Estimation of Parameters Part 1.p

    Uploaded by

    Lee Suarez
    This document discusses statistical inference for estimating population parameters based on sample statistics. It introduces point estimates and confidence intervals. Point estimates are single values used to estimate unknown population parameters, while confidence intervals consist of a range of values within which the parameter is expected to fall based on a given degree of confidence, such as 95%. The document provides examples of estimating means and defines key terms like confidence coefficient and confidence limits. It also discusses properties of the t-distribution, which is used for constructing confidence intervals when the population standard deviation is unknown.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Module 4 Statistical Inference Estimation of Parameters Lesson 1 Estimation of Parameters Part 1.p

    Uploaded by

    Lee Suarez
    50 views5 pages
    This document discusses statistical inference for estimating population parameters based on sample statistics. It introduces point estimates and confidence intervals. Point estimates are single values used to estimate unknown population parameters, while confidence intervals consist of a range of values within which the parameter is expected to fall based on a given degree of confidence, such as 95%. The document provides examples of estimating means and defines key terms like confidence coefficient and confidence limits. It also discusses properties of the t-distribution, which is used for constructing confidence intervals when the population standard deviation is unknown.

    Original Description:

    Original Title

    Module_4_Statistical_Inference__Estimation_of_Parameters_Lesson_1__Estimation_of_Parameters_Part_1.p

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    This document discusses statistical inference for estimating population parameters based on sample statistics. It introduces point estimates and confidence intervals. Point estimates are single values used to estimate unknown population parameters, while confidence intervals consist of a range of values within which the parameter is expected to fall based on a given degree of confidence, such as 95%. The document provides examples of estimating means and defines key terms like confidence coefficient and confidence limits. It also discusses properties of the t-distribution, which is used for constructing confidence intervals when the population standard deviation is unknown.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    50 views5 pages

    Module 4 Statistical Inference Estimation of Parameters Lesson 1 Estimation of Parameters Part 1.p

    Uploaded by

    Lee Suarez
    This document discusses statistical inference for estimating population parameters based on sample statistics. It introduces point estimates and confidence intervals. Point estimates are single values used to estimate unknown population parameters, while confidence intervals consist of a range of values within which the parameter is expected to fall based on a given degree of confidence, such as 95%. The document provides examples of estimating means and defines key terms like confidence coefficient and confidence limits. It also discusses properties of the t-distribution, which is used for constructing confidence intervals when the population standard deviation is unknown.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 5

    Module 4

    Statistical Inference: Estimation of Parameters


    The used of different samples might lead to different conclusions, and hence, we can’t be certain that the
    conclusions derived from the different samples are correct. Statistical inference uses the language of probability
    to say how trustworthy these conclusions are. Module 4 introduces the point estimates and confidence intervals
    for estimating the value of a population parameter. Estimation of parameters are based on the sampling
    distributions of statistics. That is, it uses probability to predict what would happen if we applied the statistical
    inference many times.

    Lesson 1: Estimation of Parameters Part 1

    Estimation of Parameters – involves the estimation of unknown population values (parameters) by the
    known sample values (statistic).
    Remark: Statistic are used to estimate the unknown parameters.

    m
    er as
    Types of Estimation

    co
    I. Point Estimate – consists of a single value used to estimate population parameters.

    eH w
    o.
    rs e
    ou urc
    o
    aC s
    vi y re

    II. A confidence – Interval Estimate – consists of an interval of numbers obtained from a point estimate,
    together with a percentage specifying how confident we are that the parameters lies in the interval.
    Example: Consider the following statement.
    ed d
    ar stu

    A 95% confidence interval for the mean grade of business students is (1.0, 1.5).
    Remark: The number 95% or 0.95 is called the confidence coefficient or the degree of confidence. The end
    points (1.0, 1.5) that is 1.0 and 1.5 are respectively called the lower and upper confidence limits.
    is
    Th
    sh

    This study source was downloaded by 100000758041719 from CourseHero.com on 05-21-2021 21:43:24 GMT -05:00

    https://www.coursehero.com/file/94136964/Module-4-Statistical-Inference-Estimation-of-Parameters-Lesson-1-Estimation-of-Parameters-Part-1p/
    m
    er as
    co
    eH w
    o.
    rs e
    ou urc
    o
    aC s
    vi y re
    ed d
    ar stu
    is
    Th
    sh

    The Nature of t-Distribution


    Properties of the t-distribution

    1. unimodal;
    This study source was downloaded by 100000758041719 from CourseHero.com on 05-21-2021 21:43:24 GMT -05:00

    https://www.coursehero.com/file/94136964/Module-4-Statistical-Inference-Estimation-of-Parameters-Lesson-1-Estimation-of-Parameters-Part-1p/
    2. asymptotic to the horizontal axis;
    3. symmetrical about zero;

    4. dependent on v, the degrees of freedom (for the statistic under discussion, v=n-1).
    5. more variable than the standard normal distribution,

    6. approximately standard normal if v is large.

    Definition: Degrees of freedom – the number of values that are free to vary after a sample statistic has been
    computed, and they tell the researcher which specific curve to use when a distribution consists of a family of
    curves.

    Example: A study found that the average time it took a person to find a new job was 5.9 months. If a sample of

    m
    36 job seekers was surveyed, find the 99% confidence interval of the true population mean. Assume that the

    er as
    standard deviation is 0.8 month.

    co
    eH w
    o.
    rs e
    ou urc
    o
    aC s
    vi y re
    ed d
    ar stu
    is
    Th
    sh

    This study source was downloaded by 100000758041719 from CourseHero.com on 05-21-2021 21:43:24 GMT -05:00

    https://www.coursehero.com/file/94136964/Module-4-Statistical-Inference-Estimation-of-Parameters-Lesson-1-Estimation-of-Parameters-Part-1p/
    m
    er as
    co
    eH w
    o.
    rs e
    ou urc
    o
    aC s
    vi y re
    ed d
    ar stu
    is
    Th
    sh

    This study source was downloaded by 100000758041719 from CourseHero.com on 05-21-2021 21:43:24 GMT -05:00

    https://www.coursehero.com/file/94136964/Module-4-Statistical-Inference-Estimation-of-Parameters-Lesson-1-Estimation-of-Parameters-Part-1p/
    Learning Check
    Find the confidence interval estimate of the following problems on estimation of parameters. Then verify
    your answer using excel.

    1. An independent researcher wishes to estimate the average amount of money a young professional spends in

    m
    er as
    clothing each month. A sample of 30 young professional who spend in clothing found the mean to be Php 500
    and the standard deviation to be Php 60. Find 95% confidence interval of the population mean.

    co
    eH w
    o.
    rs e
    2. The following are the IQ test scores of 31 randomly selected business students in a certain university.
    ou urc
    113 99 104 89 102 91 114 114 103 105 106
    108 130 120 131 110 127 118 119 87 73
    o

    111 103 74 112 107 103 98 96 112 113


    aC s

    Estimate the mean IQ score for all business students using the following:
    vi y re

    a. 99% confidence interval


    b. 95% confidence interval
    ed d
    ar stu
    is
    Th
    sh

    This study source was downloaded by 100000758041719 from CourseHero.com on 05-21-2021 21:43:24 GMT -05:00

    https://www.coursehero.com/file/94136964/Module-4-Statistical-Inference-Estimation-of-Parameters-Lesson-1-Estimation-of-Parameters-Part-1p/
    Powered by TCPDF (www.tcpdf.org)

    You might also like