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Sampling Distribution

The probability distribution of a sample statistic or point estimator.

Population Parameter

A value that describes a characteristic of the entire population, such as the mean (µ) or proportion (p).

Sample Statistic

A value that describes a characteristic of a sample drawn from the population; typically a point estimator of the population parameter.

Point Estimator

A single value calculated from the sample data that serves as an estimate of the population parameter.

Central Limit Theorem (CLT)

States that the distribution of the sample means will approach a normal distribution as the sample size increases, regardless of the shape of the population distribution.

Random Variable

A numerical description of the outcome of an event, which can take on different values based on the result of a random experiment.

Normal Distribution

A continuous probability distribution characterized by a bell-shaped curve, defined by its mean and standard deviation.

Standard Deviation of the Sampling Distribution

The standard deviation of a sample statistic, which indicates how much the statistic is expected to vary from sample to sample.

Sample Proportion

The proportion of a certain characteristic in a sample, denoted as p, which serves as a point estimator for the population proportion.

Z-Score

A standardized score that indicates how many standard deviations an element is from the mean.

Normal Approximation

The use of the normal distribution to estimate probabilities or other characteristics of a distribution when certain conditions, such as sample size, are met.

np and n(1-p) condition

For the sampling distribution of p to be approximately normal, both np and n(1-p) must be greater than or equal to 5.

Population Mean (µ)

The average value of a characteristic for the entire population.

Sample Size (n)

The number of observations in a sample.

Inference

The process of drawing conclusions about a population parameter based on sample statistics.

Estimation Problem

A problem that involves determining an estimate of a population parameter using sample data.