Ch 6 Introduction to Formal Statistical Inference.
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Ch 6 Introduction to Formal Statistical Inference
6.1 Large Sample Confidence Intervals for a Mean A confidence interval for a parameter is a data-based interval of numbers likely to include the true value of the parameter with a probability-based confidence. A 95% confidence interval for µ is an interval which was constructed in a manner such that 95% of such intervals contain the true value of µ.
Interval Estimate—Confidence intervals An interval estimate consists of an interval which will contain the quantity it is supposed to estimate with a specified probability (or degree of confidence). Recall that for large random samples from infinite populations, the sampling distribution of the mean is approximately a normal distribution with So we will utilize some properties of normal distribution to explain a confidence interval.