Loose Ends Chapter 8 Flashcards Preview

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Flashcards in Loose Ends Chapter 8 Deck (9)
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1
Q

what is a point estimator

A

a statistic that provides an estimate of a population parameter

2
Q

what is a point estimate

A

the value of the point estimator

3
Q

margin of error

A

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

4
Q

what is the confidence level c

A

the overall success rate of the method for calculating confidence

5
Q

what is the statement for confidence intervals?

A

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

6
Q

what is the statement for confidence levels?

A

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

7
Q

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

A

random, normal, independent

8
Q

how do you find independence in confidence intervals

A

the 10% condition

9
Q

what is the standard error?

A

basically the standard deviation