ECO 391 Review Quiz | Actual study |
Questions and Answers
Experiment - ANSW-Any procedure that can, at least in theory, be infinitely repeated, and has a well-
defined set of outcomes.
Random Variable - ANSW-a function or a rule that assigns a number to each outcome of an experiment
Discrete Random Variable - ANSW-One that takes on a countable number of values.
Continuous Random Variable - ANSW-One whose values are uncountable.
Probability Density Function - ANSW-A function that describes the likelihood for this random variable to
occur at a given point in time. It is an approximation of a curve.
Parameter - ANSW-a numerical quantity measuring some aspect of a population of scores
Mu - ANSW-Parameter
Estimator - ANSW-A function used to estimate population parameters.
Normal Distribution - ANSW-f(x) =(1/sigma*sqrt(2pi)*e^(-.5*(x-u/sigma)^2
Standard Normal - ANSW-Z =X-u/sigma
Central Limit Theorem - ANSW-The sampling distribution of the mean of a random sample drawn from
any population is approximately normal for a sufficiently large sample size. The larger the sample size,
the more closely the sampling distribution of X will resemble a normal distribution.
Questions and Answers
Experiment - ANSW-Any procedure that can, at least in theory, be infinitely repeated, and has a well-
defined set of outcomes.
Random Variable - ANSW-a function or a rule that assigns a number to each outcome of an experiment
Discrete Random Variable - ANSW-One that takes on a countable number of values.
Continuous Random Variable - ANSW-One whose values are uncountable.
Probability Density Function - ANSW-A function that describes the likelihood for this random variable to
occur at a given point in time. It is an approximation of a curve.
Parameter - ANSW-a numerical quantity measuring some aspect of a population of scores
Mu - ANSW-Parameter
Estimator - ANSW-A function used to estimate population parameters.
Normal Distribution - ANSW-f(x) =(1/sigma*sqrt(2pi)*e^(-.5*(x-u/sigma)^2
Standard Normal - ANSW-Z =X-u/sigma
Central Limit Theorem - ANSW-The sampling distribution of the mean of a random sample drawn from
any population is approximately normal for a sufficiently large sample size. The larger the sample size,
the more closely the sampling distribution of X will resemble a normal distribution.
