QBA 5435 Study guides, Class notes & Summaries

Which of the following is an advantage of a confidence interval estimate over a point estimate for a population parameter? Interval estimat an point estimat Interval estimates take into account the fact that the statistic being used to estimate the population parameter is a random variable. Question 2 4/4pts For a fixed level of confidence, what happens to a confidence interval for the population mean when we increase the sample size? ‘The width of the confidence interval decreases.

A(n) _____________ is the set of all of the distinct possible outcomes of an experiment. sample space Events that have no sample space outcomes in common, and therefore cannot occur simultaneously, are ____________. Mutually exclusive A(n) __________ is the probability that one event will occur given that we know that another event has occurred. conditional probability The __________ of two events A and B is the event that consists of the sample space outcomes belonging to both event A a...