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Explain what we mean by a confidence level (exp. 95%) - 🧠ANSWER
✔✔The percentage of intervals, based on all possible samples of the same
size taken from the same population, that contain the parameter.
For example, if we construct 100 95% confidence intervals using 100
samples of the same size, approximately 95 of the intervals will contain the
true parameter and 5 will not.
A point estimate is the value of a _________ that estimates the value of a
____________ - 🧠ANSWER ✔✔statistic, parameter
What are the two desirable characteristics of an ideal confidence interval? -
🧠ANSWER ✔✔narrow and high confidence level
, What is the best point estimate for the population proportion? - 🧠ANSWER
✔✔p hat
Type I error - 🧠ANSWER ✔✔reject Ho when Ho is true
Type II error - 🧠ANSWER ✔✔do not reject Ho when Ho is false
statistically significant - 🧠ANSWER ✔✔observed results are unlikely under
the assumption that the null hypothesis is true
random variable - 🧠ANSWER ✔✔assignment of numerical values to all
outcomes of a probability experiment
sampling distribution - 🧠ANSWER ✔✔a probability distribution for all
possible values of a statistic
Two events E and F are independent if - 🧠ANSWER ✔✔occurrence of
event E does not affect the probability of event F in the same experiment
T or F: the empirical probability of an event E may change experiment to
experiment - 🧠ANSWER ✔✔True
Classical Probability - 🧠ANSWER ✔✔Dividing number of outcomes in an
event by number of all possible outcomes