AP Stats Unit 8.1

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8 Terms

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Point Estimator

A statistic that provides an estimate of a population parameter

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Point Estimate

Value of that statistic from a sample

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Confidence Interval

Gives an interval of plausible values for a parameter. the interval is calculated by (point estimate)+-(Margin of Error)

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Margin of Error

How close we believe our guess is, based on varaiability of the estimate in the repeated SRSs of size n

Difference between the point estimate and true parameter value will be less then margin of error

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Confidence Level

Overall success rate if the method of calculating the confidence interval

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Confidence Interval Interpretation

We are C% confident that the interval () to () captures the true population (parameter in context)

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How to calculate point estimate and ME from an interval

PE: find midpoint of the 2 values

ME: +- PE with interval values

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Interpretation of Confidence Level

If we repeat a sample many, many times, of size N about C% off all intervals will capture the