IPHY 2500 Lecture 13: Unit 5 Modules 13 Class Notes OCT 20
24 Oct 2016
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Unit 5 modules 13-14: introduction to inference estimation. Class notes october 20th: 3 forms of inference. Point estimation: using a single value from a sample to estimate a population perameter confidence intervals. Using a range of values to estimate a parameter stating our confidence that an interval captures a parameter. Evaluating the likelihood of observing a specific statistic given an assumed value of the population parameter. Even if we have obtained a random sample, using a point estimate will result in some error due to sampling from a small fraction of the population (sampling error). Without quantifying the extent of estimation error, point estimates are of limited use. 99% because you have the most confidence. The 90% because it has the smallest margin of error: confidence interval means the range of values we hope captures the population perameter. Ci = point estimate of the +/- the margin of mean. Xbar +/- error or (small #, high #)
