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Sampling Distribution of Sample Mean

A frequency distribution of means computed from all possible random samples of a specific size taken from a population.

Population Mean (μ)

The mean of the sampling distribution is equal to the population mean.

Parameter

A numerical measurement or quantity that describes the characteristics of a population, typically denoted by Greek letters.

Statistic

A numerical measurement or quantity that describes the characteristics of a sample, usually denoted by letters.

Population Variance (σ²)

The average of the squared differences from the population mean.

Point Estimation

A single value or point that estimates the population parameter.

Level of Confidence (c)

The probability that the estimated interval will contain the population parameter.

Z-test

A statistical test used to determine whether two population means are different when the variances are known, and the sample size is large (n≥ 30).

T-test

A statistical test used to compare the means of two groups of data (n<30).

Margin of Error

The difference between the point estimate and the actual population parameter value.