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Ryerson University

Quantitative Methods

QMS 202

Clare Chua

Winter

Description

Confidence Interval Estimation for the Mean sd is known Sample meanZvalue sdnof samples Determine ZValue DIST NORMInvN CNTR 099 for 99 example 1 0Definitions Census A set of date that includes ALL members of a population Sample A subset 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 Population Proportion is denoted asSample proportion is denoted as p Population Mean is denoted as or M Sample Mean is denoted as xbar Parameter measurement describing the population egorEstimation using sample data to estimate the unknown population parameterorConfidence interval an interval that is likely to include a population parameterorgiven a confidence level usually expressed in percentageThe interval is point estimatethe margin of error Which is point estimatecritical value standard error The c

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