Statistics notes for grade 11 students, Assignments of Mathematics

Download Statistics notes for grade 11 students and more Assignments Mathematics in PDF only on Docsity!  A point estimate is a numerical value and it identifies a location or a position in the distribution of possible values.  An interval estimate is a range of values where most likely the true value will fall  As stated in item 3, the percentage should be within 0% to 100%. This measure of confidence in the interval estimate is referred to as confidence coefficient.  When combined with their estimate in item 2, such is now referred to as confidence interval estimate. Hence, a confidence interval estimate is a range of values where one has a certain percentage of confidence that the true value will likely fall in.  In estimating a parameter, the mathematical expression or formula you used in coming up with the estimate is referred to as estimator while the estimate is a numerical value that you arrived at when you apply the estimator using the sample data.  Thus, an unbiased estimator is one whose average value is equal to the parameter itself.  If the average value of the estimates deviates from the parameter value then the estimator is said to biased.  Bias is the difference between the average value of the estimator (i.e. the expected value of the sampling distribution) and the value of the population parameter.  Accuracy is a measure of closeness of the estimates to the true value  Precision is a measure of closeness of the estimates to each other  A point estimate gives a single value of the parameter while an interval estimate gives a range of possible values of the parameter.  Also, with an attached confidence coefficient the interval estimate is referred to as confidence interval estimate.  The width of the interval estimate represents the accuracy of the estimate.  The width of the interval estimate is the difference between the upper limit and the lower limit of the interval estimate.  This would lead to 2(insert formula ekek) where is usually referred to as maximum allowable deviation, denoted by D.  This is referred to as the sample proportion which is defined as the ratio of the number of sample units possessing the characteristic of interest to n.