Estimation Chapter 8. Estimating µ When σ Is Known.

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Presentation transcript:

Estimation Chapter 8

Estimating µ When σ Is Known

Overview

σ is Known Issues If we have calculated σ, then we must have access to all of the population data and we should have be able to actually calculate the population mean, µ. We must assume that someone gave us σ or we somehow lost the value of µ and do not want to recalculate it.

Accuracy of the Estimate

Using the Standard Normal Distribution for Estimating a Population Mean Required Conditions All possible samples of a given size have an equal probability of being chosen The population standard deviation is known Either the sample size is at least 30 or the population distribution is approximately normal Why? The Central Limit Theorem

Confidence Interval

Margin of Error of a Confidence Interval for a Population Mean (σ known)

Minimum Sample Size Selection

Estimating µ When σ Is Unknown

Student’s t distribution

Estimating p in the Binomial Distribution

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