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9 Cards in this Set
- Front
- Back
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Interval estimate
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An estimate of a population parameter that provides an interval believed to contain the value of the parameter. Point estimate (+/-) margin of error
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Margin of Error
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The (+/-) value added to and subtracted from the point estimate in order to develop an interval estimate of a population parameter
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o~ known
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The case when historical data or other information provides a good value for the population standard deviation prior to taking a sample. The interval estimation procedure uses this known value of o~ in computing the margin of error
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Confidence level
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The confidence associated with an interval estimate
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Confidence coefficient
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The confidence level expressed as a decimal value
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Confidence interval
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Another name for an interval estimate
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o~ unknown
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The more common case when no good basis exists for estimating the population standard deviation prior to taking the sample. The interval estimation procedure uses the sample standard deviation in computing the margin of error
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t distribution
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A family of probability distributions that can be used to develop an interval estimate of a population mean whenever the population standard deviation o~ is unknown and is estimated by the sample standard deviation s
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Degrees of freedom
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A parameter of the t distribution. When the t distribution is used in the computation of an interval estimate of a population mean, the appropriate t distribution has n-1 degrees of freedom, where n is the size of the sample
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