Estimation in Statistics

These flashcards cover key concepts in estimation, focusing on techniques, definitions, and statistical principles related to estimating population parameters.

What is estimation in statistics?

Estimation is a process where a statistical inference is made about the population based on information gathered in a sample.

What are point estimates?

Point estimates are where we use sample statistics to predict population parameters.

What is the point estimator for the population mean (µ)?

The point estimator for the population mean (µ) is the sample mean (𝑥̄).

What is an interval estimate?

An interval estimate is a range of values used to denote a population parameter.

What is Standard Error?

Standard Error is an estimate of the standard deviation of a particular population statistic.

How does sample size affect the Standard Error?

Standard Error takes into account the sample size.

What is the t-distribution used for?

The t-distribution is used in place of the Normal Distribution when the sample size is small or when the population variance is unknown.

What condition prompts the use of the t-distribution?

The t-distribution is used when the sample size is less than 30 and the population variance is unknown.

What is the formula for degrees of freedom?

Degrees of freedom = n - 1, where n is the sample size.

What does a confidence interval indicate?

A confidence interval indicates the range within which we can expect the population parameter to fall, based on sample data.

What factors determine a confidence interval?

A confidence interval is determined by the point estimate, reliability coefficient, and standard error.

How do we calculate the confidence interval for a small sample size with unknown variance?

For small samples with unknown variance, we use the t-value obtained from the t-distribution table.

What happens to the confidence interval as confidence level increases?

The larger the confidence level, the wider the confidence interval.

What standard error formula is used for population proportion?

Standard error for proportion is calculated as SE = √(p̂(1 - p̂)/n).

What is the point estimator for the population proportion (p)?

The point estimator for the population proportion (p) is the sample proportion (p̂).