Population correct answers the set of all objects or individuals we wished we had data on (e.g. US adults)
Sample correct answers the set of objects that we actually have data on
Sample proportions are just __________________ correct answers point estimates
point estimate definition correc...
BUAL 2650 || Already Passed.
Population correct answers the set of all objects or individuals we wished we had data on (e.g.
US adults)
Sample correct answers the set of objects that we actually have data on
Sample proportions are just __________________ correct answers point estimates
point estimate definition correct answers the statistic calculated from sample data used to
estimate the true unknown value in the population
Is the sample proportion the same from sample to sample? correct answers No
Advantage of sample proportion correct answers easy calculation
Sample Proportion Formula correct answers p̂ = x/n
Disadvantage of sample proportion correct answers the sample proportion does not equal the
population, but does it it right on average
Standard Deviation Definition correct answers The difference between the sample proportion
and the population; how much our sample proportion will be off by
Standard Deviation Formula correct answers square root of pq/n , where q=1 - p
95% confidence interval correct answers p̂ ± 2•SD(p̂), where the upper boundary is + and the
lower boundary is -
95% CI translation correct answers 95% of the sample proportions are within two times the
standard deviation of the mean
Randomization Condition correct answers you must have a random sample
10% Condition correct answers the sample size, n, must be no larger than 10% of the population,
or else the sample will be correlated
Success/Failure Condition correct answers the sample size, n, must be big enough to that the
number of successes, np, and the number of failures, nq, are at least 10. (i.e. np ≥ 10 and nq ≥ 10)
What does it mean if our data follows all three conditions? correct answers Our data follows
normal distribution
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller FullyFocus. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.99. You're not tied to anything after your purchase.