Study Guide Chapter 7: Estimating Parameters and Determining Sample Sizes

Flashcards covering key concepts and definitions related to estimating parameters and determining sample sizes.

Population Parameter

A numerical value describing a population, such as population proportion (p).

Sample Statistic

A numerical value describing a sample, such as sample proportion (p).

Point Estimate

A single value used to estimate a population parameter.

Confidence Interval (CI)

A range of values used to estimate a population parameter.

Margin of Error (E)

The amount that is allowed for in case of miscalculation or change of circumstances.

Confidence Level

The long-run success rate of the method, commonly expressed in percentages like 90%, 95%, or 99%.

Alpha (α)

The probability of making a Type I error, calculated as 1 - confidence level.

Critical Value (z α/2)

The value that corresponds to the desired confidence level in a normal distribution.

Wald Confidence Interval

A method for constructing a confidence interval for population proportions.

Degrees of Freedom (df)

A parameter used in various statistical tests, calculated as the sample size minus one (n - 1).

Student t Distribution

Used when the population standard deviation is unknown and the sample size is small or moderate.

Chi-Square (χ²) Distribution

A distribution used to estimate population variance and standard deviation.

Rounding Rule

Guidelines for how to round confidence interval limits and estimates.

Bootstrapping

A statistical method that resamples a dataset to estimate the distribution of a statistic.

Sample Size (n)

The number of observations in a sample, important for determining the statistical validity.

Population Mean (μ)

The average of a group of instances measured; the parameter for a population.