In your own words, carefully explain the meanings of the following terms. (a) po
ID: 3311963 • Letter: I
Question
In your own words, carefully explain the meanings of the following terms.
(a) point estimate
A measure of the reliability of an interval estimate.
A single number used to estimate a population parameter.
A procedure designed to give a range of values as an estimate of an unknown parameter value.
The largest distance between the point estimate and the parameter it estimates that can be tolerated under certain circumstances.
The value of a probability density function which cuts off a critical area.
(b) critical value
A measure of the reliability of an interval estimate.
The largest distance between the point estimate and the parameter it estimates that can be tolerated under certain circumstances.
A procedure designed to give a range of values as an estimate of an unknown parameter value.
A single number used to estimate a population parameter.
The value of a probability density function which cuts off a critical area.
(c) maximal margin of error
A procedure designed to give a range of values as an estimate of an unknown parameter value.
The value of a probability density function which cuts off a critical area.
A measure of the reliability of an interval estimate. A single number used to estimate a population parameter.
The largest distance between the point estimate and the parameter it estimates that can be tolerated under certain circumstances.
(d) confidence level
A single number used to estimate a population parameter.
The largest distance between the point estimate and the parameter it estimates that can be tolerated under certain circumstances.
The value of a probability density function which cuts off a critical area.
A measure of the reliability of an interval estimate.
A procedure designed to give a range of values as an estimate of an unknown parameter value.
(e) confidence interval
A single number used to estimate a population parameter.
A measure of the reliability of an interval estimate.
A procedure designed to give a range of values as an estimate of an unknown parameter value.
The largest distance between the point estimate and the parameter it estimates that can be tolerated under certain circumstances.
The value of a probability density function which cuts off a critical area.
Explanation / Answer
ANSWER :-
(a)
A single number used to estimate a population parameter.
(b)
The value of a probability density function which cuts off a critical area.
(c)
The largest distance between the point estimate and the parameter it estimates that can be tolerated under certain circumstances.
(d)
A measure of the reliability of an interval estimate.
(e)
A procedure designed to give a range of values as an estimate of an unknown parameter value.