1. Estimation Chapter 8

2. Estimating µ When σ Is Known

3. Overview

4. σ is Known Issues If we have calculated σ, then we must have access to all of the population data and we should have be able to actually calculate the population mean, µ. We must assume that someone gave us σ or we somehow lost the value of µ and do not want to recalculate it.

5. Accuracy of the Estimate

6. Using the Standard Normal Distribution for Estimating a Population Mean Required Conditions All possible samples of a given size have an equal probability of being chosen The population standard deviation is known Either the sample size is at least 30 or the population distribution is approximately normal Why? The Central Limit Theorem

7. Confidence Interval

8. Margin of Error of a Confidence Interval for a Population Mean (σ known)

9. Minimum Sample Size Selection

10. Estimating µ When σ Is Unknown

11. Student’s t distribution

12. Estimating p in the Binomial Distribution