Sampling & Estimation
Sampling Distribution:
Probability distribution of all possible sample statistics computed from a set of equal-size samples randomly drawn from the same population.The sampling distribution of the mean is the distribution of estimates the mean.
Standard Error of Sample Mean:
Standard error of the sample mean is the standard deviation of distribution of the sample mean.
● Known population variance:
● Unknown population variance:
Estimation(https://www.daowen.com)
● Point estimation:unbiasness,best,consistency.
● Confidence interval estimation:
Confidence interval:gives range of values the mean value will be between,with a given probability (say 90% or 95%).With known variance,formula for a confidence interval is:
Point estimate+/-(reliability factor×standard error)
√ With known variance:
√ With unknown variance:
