Chapter 8 Flashcards Preview

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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

Robust procedures

If the probability calculations involved in that procedure remain fairly accurate when a condition for using the procedure is violated