Flashcards in Chapter 8 Deck (10):

1

## Point estimate

### the value of that statistic from a sample, our "best guess" at the value of an unknown parameter

2

## Confidence interval

### estimate plus or minus the margin of error

3

## Margin of error

### Tells how close the estimate tends to be to the unknown parameter in repeated random sampling

4

## Confidence level C

### Gives the overall success rate of the method for calculating the confidence interval, C% of all possible samples, the method would yikes an interval that captures the true parameter value

5

## Random

### Data comes from a well-designed random sample or randomized experiment

6

## Normal

### The sampling distribution of the statistic is approximately normal

7

## Independent

### Individual observations are independent. When sampling without replacement, the sample size n should be no more than 10% of the population size N (10% condition) to use our formula for the standard deviation of the statistic

8

## Point estimator

### a statistic that provides an estimate of a population parameter

9

## Standard error of the sample mean

### Describes how far x bar (mean) will be from u, on average, in repeated SRS's of size n

10