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Estimation

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Chapter 4: Estimation ,[object Object],Sample information Population parameters Inferences
Point and interval estimates ,[object Object],[object Object],[object Object],[object Object]
Criteria for good estimates ,[object Object],[object Object],[object Object],[object Object]
Bias and precision – a possible trade-off True value
Estimating a mean (large samples) ,[object Object],[object Object],[object Object],[object Object]
The 95% confidence interval ,[object Object],[object Object],[object Object]
The 95% probability interval 
The 95% confidence interval 
Example: estimating average wealth ,[object Object],[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],Example: estimating average wealth (continued)
What is a confidence interval? One sample out of 20 (5%) does not contain the true mean, 15.
Estimating a proportion ,[object Object],[object Object],[object Object],[object Object]
Example: unemployment ,[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],Example: unemployment (continued)
Estimating the difference of two means ,[object Object]
Same principles as before… ,[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],Calculating point estimate CE: AQ: We have introduced the caption “Calculating point estimate”. Please confirm if it is ok.
[object Object],[object Object],Confidence intervals CE: AQ: We have introduced the caption “Confidence intervals”. Please confirm if it is ok.
Using different confidence levels ,[object Object],[object Object],[object Object]
Estimating the difference between two proportions ,[object Object]
Estimation with small samples: using the t distribution ,[object Object],[object Object],[object Object],[object Object]
Example: beer expenditure ,[object Object],[object Object]
[object Object],[object Object],Example: beer expenditure (continued)
Summary ,[object Object],[object Object],[object Object]

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Estimation

Notas del editor

  1. The sample information is known, the population parameters are not, in general.