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7 Terms
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Population Parameter
A value that describes a characteristics of a population or model
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Sample Statistic
A value that describes a characteristic of a sample
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Sampling Variability
the idea that the value of a statistic will vary from one sample to the next
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Sampling distribution of a statistic
the distribution of values taken by the statistic in all possible samples of the same size from the same population; Sampling distributions may be approximated by:
1. repeated computer simulations or hands-on simulations 2. a theoretical sampling distribution derived from the rules of probability
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Unbiased estimator
A statistic which has a sampling distribution equal to the value of the parameter being estimated
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Random Sampling Methods
produce unbiased estimators.
When using an unbiased estimator, we’re equally likely to get a sample that overestimates the parameter as one that underestimates the parameter.
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Variability of a statistic
the spread of its sampling distribution. (precision)
* Larger random samples have less variability than smaller random samples. * Larger random samples have the same amount of bias as smaller random samples.
The best sampling methods have low bias and low variability.