QMS 202 Study Guide - Confidence Interval, Central Limit Theorem, Sampling Error

• School: Ryerson University
• Department: Quantitative Methods
• Course: QMS 202
• Professor: Bob Hudyma

Document Summary

Sample = 100 boxes probability = ? sample mean = below 365 g population mean ( ) = 368. Area less than z = -2. 00 0. 0228. 2. 28% of samples of 100 boxes have mean below 365 g for sampling distribution of mean. Point estimate - val of any statistic that estimates val of a parameter rarely know if point estim correct b/c it"s an estim of actual val. Confidence interval estim - range of # around pt estim ( ) = 2. 95 sample mean estim pop prob of pop w/in interval sample mean = stat, pt estim pop mean = parameter. Confidence intervals - discrepancy of estim -- help estim what actual val of unknown pop mean. Pt estim of pop mean there is specified confidence is somewhere in range of # by interval. 95% confident level mean gpa (2. 75 2. 85) = between.