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mat1530

University of South Africa

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Exam (elaborations) mat1530

  • Exam (elaborations) mat1530

  • Exam (elaborations) • 14 pages • 2022
  • POINT ESTIMATE: a single value (or point) used to approximate a population parameter. The sample proportion ^p is the best point estimate of the population proportion p . CONFIDENCE INTERVAL (or INTERVAL ESTIMATE): a range or an interval of values used to estimate the true value of a population parameter. Sometimes abbreviated as CI. CONFIDENCE LEVEL: the probability, 1−α (such as 0.95 or 95%), that the confidence interval actually does contain the population parameter, assuming that the...
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