Estimation of Mean and Proportion

Flashcards covering key vocabulary and concepts related to estimation of mean and proportion in statistics.

Point Estimation

A method of estimating an unknown population parameter using a single value calculated from sample data.

Interval Estimation

A method of estimating an unknown population parameter using an interval of values likely to contain the true parameter.

Estimator

A sample statistic used to estimate a population parameter.

Confidence Interval

A range of values constructed from sample data so that the population parameter is likely to occur within that range at a specified probability.

Population Parameter

A numerical characteristic of a population, such as a mean or proportion.

Sample Mean (x-bar)

The average value calculated from a sample.

Sample Proportion (p-hat)

The ratio of successes in a sample to the sample size.

Unbiased Estimator

An estimator where the expected value is equal to the parameter being estimated.

Z-score

A measure of how many standard deviations an element is from the mean.

Standard Error

The standard deviation of the sampling distribution of a statistic.

Central Limit Theorem

A statistical theory that states that the distribution of sample means approaches a normal distribution as the sample size increases.

Confidence Level

The probability that the confidence interval contains the true population parameter.

Degrees of Freedom (df)

The number of independent values or quantities that can be assigned to a statistical distribution.

Standard Deviation (σ)

A measure of the amount of variation or dispersion in a set of values.

Critical Value (t or Z)

The value that separates the region where we reject the null hypothesis from the region where we do not.

Type I Error

The incorrect rejection of a true null hypothesis.

Type II Error

The failure to reject a false null hypothesis.

Hypothesis Testing

A statistical method to make inferences or draw conclusions about a population based on sample data.

Sample Size (n)

The number of observations or data points in a sample.

Margin of Error

The maximum amount that the sample results are expected to differ from the true population value.

Quantitative Variable

A variable that can be measured on a numerical scale, such as IQ levels.

Dichotomous Outcome

An outcome that has two possible values, typically 'success' or 'failure'.