BUS 082 Lecture Notes - Lecture 8: Exponential Distribution, Confidence Interval, E.G. Time

• School: College of The Sequoias
• Department: Business (BUS)
• Course: BUS 082
• Professor: bettencourt

Document Summary

Usually used to model the length of time between two events. E. g. time between trucks at a station, waiting time to be served. Different means come from each sample of same size, make up the sampling distribution. Interested in the distribution of all possible samples of same size e. g. 50 people. Find mean and standard deviation for population (e. g. if n = 4) Consider all possible samples of n = 2. Find mean and standard deviation of these possible samples. A measure of the variability in the mean from sample to sample. Different samples of the same size from the same population will yield different means. As sample size increases, standard error of the mean decreases. The sampling distribution of the sample mean has: Sample mean is an unbiased estimator of the population mean. Sampling distribution of the mean will always equal. Z value for the sampling distribution of the sample mean.