Statistical Sciences 1024A/B Chapter Notes - Chapter 15: Sampling Distribution, Statistical Parameter, Simple Random Sample

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A parameter is a number that describes some aspect of the population. A statistic is a number that is computer from the sample and is often used to estimate the unknown parameter. Example: is a population parameter, x is a statistic, x is an estimate of . The population parameter is called the true population mean. 15. 2 statistical estimation and the law of large numbers. The population mean is rarely exactly equal to the population mean. However, if we keep taking large and large samples, the statistic is guaranteed to get closer and closer to the true population parameter. Eventually we will estimate the population mean very accurately. This is called the law of large numbers: as the number of randomly-drawn observations (n) in a sample increases, the mean of the sample gets closer and closer to the population mean. Variability: the sample mean changes sample by sample with each srs of size n.

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