QMS 202 Study Guide - Quiz Guide: Confidence Interval, Interval Estimation, Statistical Parameter

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Confidence interval estimation for the mean (sd is known) Sample mean z-value * (sd) / n (# of samples) Determine z-value (dist), (norm), (invn), (cntr, 0. 99 (for 99% example), 1, 0) Census: a set of date that includes all members of a population. Sample size: number of elements in a sample, is denoted as n. Population size: number of elements in a population, is denoted as n. Parameter: measurement describing the population (e. g. or. Estimation: using sample data to estimate the unknown population parameter ( or ) Confidence interval: an interval that is likely to include a population parameter ( or ) given a confidence level (usually expressed in percentage). The interval is (point estimate) (the margin of error) Which is (point estimate) (critical value) (standard error) The critical value is either a z-value or a t-value based on the confidence level. You use the invn function to obtain the z-value with mean equals zero and standard deviation equals one.