STAT 200 Lecture Notes - Lecture 2: Statistical Parameter, Interval Estimation, Statistic
Document Summary
The higher the standard error of a statistic, the lower the uncertainty surrounding the statistic. Use sample data to learn and make decision about the population. 95% 95% . 100 . A confidence interval for a parameter is an interval computed from sample data by a method that will capture the parameter for a specified proportion of all samples. The success rate (proportion of all samples whose intervals contain the parameter) is known as the confidence interval. A 95% confidence interval will contain the true parameter for. If the sampling distribution is relatively symmetric and bell- shaped, a 95% confidence interval can be estimated using sample statistic + - 2se. Recall the 95% rule - 95% of observations lie within 2 standard deviations of the mean for bell- shaped distributions. 95% of 95% confidence intervals will capture the truth. Build and interpret a 95% confidence interval for this situation.
