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Stats

Stats. Section 6.1-6.2. Let’s Have some fun!!.

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Stats

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  1. Stats Section 6.1-6.2

  2. Let’s Have some fun!! • Too bad that this statistics course in only one semester long, because now the “real” statistics begins. Everything that we have learned up to this point has prepared us for this chapter and the chapters after. There are a lot of formulas and definitions in this chapter, so we will not have any examples during this slide show. We will talk about things as they come up in class.

  3. Notation for Proportions

  4. Point Estimate • A point estimate is a single value used to approximate a population parameter. • The sample proportion is the best point estimate of the population proportion .

  5. Confidence Interval • A confidence interval is a range of values used to estimate the true value of a population parameter. A confidence interval is sometimes abbreviated as CI.

  6. Confidence Level • The confidence level is the probability (alpha) that is the proportion of times that the confidence interval actually does contain the population parameter, assuming that the estimation process is repeated a large number of times.

  7. Common Confidence Levels

  8. Critical Value • A critical value is the number on the borderline separating sample statistics that are likely to occur from those that are unlikely to occur. The number is a critical value that is a z score with the property that it separates an area of in the right tail of the standard normal distribution.

  9. Lets make life easier

  10. Margin of Error • When data from a simple random sample are used to estimate a population proportion, the margin of error, denoted by E, is the maximum likely difference between the observed sample proportion and the true value of the population proportion.

  11. Confidence Interval for the Population Proportion p

  12. Sample Size for Estimating Proportion p

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