point of intervals

statistical inference

-making conclusions/generalization about the population based on the study of samples

-composed of estimating the population parameter and hypothesis testing

estimation

either point estimate or interval estimation

point estimate

single value that estimates the population parameter

interval estimate

aka confidence interval, is a range or interval used to estimate the population parameter. defined by two numbers

confidence interval

-for a population parameter is an interval estimate w an associated confidence that it contains the unknown parameter

-3 parts: statistic, margin of error, confidence level-

confidence level

part of all possible samples taken from the same population that can be expected to include the true population parameter

margin of error

-maximum acceptable difference between the observed sample statistics and the true population parameter

-range of values above and below the sample statistics

estimate

value assigned to a population parameter based on the value of a sample

limits

endpoints of the interval