Exam SG3: Sampling Distributions & Estimating Parameter Review

Front

What is a statistic?

Back

A statistic is a numerical characteristic of a sample.

Front

What is the critical value z* for a 99% confidence interval?

Back

The critical value z* for a 99% confidence interval is 2.58.

Front

What do the symbols mean for the mean and standard deviation in a sample?

Back

They represent the mean and standard deviation for the sample.

Front

How do you construct a 99% confidence interval for a sample mean?

Back

Use the formula: CI = sample mean ± (z* × (standard deviation/√n)).

Front

What is the symbol for the sample proportion?

Back

The symbol for the sample proportion is p̂.

Front

Define a parameter in statistics.

Back

A parameter is a numerical characteristic of a population.

Front

What is the difference between a sample and a population?

Back

A sample is a subset of a population used to represent the whole.

Front

What is the purpose of a confidence interval?

Back

A confidence interval estimates the range in which a population parameter lies.

Front

What does a 99% confidence level mean?

Back

It means that if we were to take 100 samples, approximately 99 of them would contain the true population parameter.

Front

What is the formula for the standard error of the mean?

Back

Standard Error (SE) = standard deviation / √n.