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Lesson 1: Understanding The Point Estimate of A Population Mean

This document discusses point estimates and interval estimates of population means. A point estimate is a specific numerical value that approximates an unknown population parameter based on sample data. The sample mean is the best point estimate of a population mean. An interval estimate provides a range of values that may contain the true population parameter. The document provides an example of estimating the percentage of people in a district who favor an earthquake drill based on taking the mean of 10 random surveys from the population.

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Jeph Pedrigal
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15 views

Lesson 1: Understanding The Point Estimate of A Population Mean

This document discusses point estimates and interval estimates of population means. A point estimate is a specific numerical value that approximates an unknown population parameter based on sample data. The sample mean is the best point estimate of a population mean. An interval estimate provides a range of values that may contain the true population parameter. The document provides an example of estimating the percentage of people in a district who favor an earthquake drill based on taking the mean of 10 random surveys from the population.

Uploaded by

Jeph Pedrigal
Copyright
© © All Rights Reserved
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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LESSON 1

UNDERSTANDING THE POINT


ESTIMATE OF A POPULATION
MEAN

To enhance the reliability of an


estimate, we take as many random
samples as possible from a population,
compute the mean of each sample,
and then compute the MEAN OF THE
MEANS for all samples. The final result
is a number that is called POINT
ESTIMATE of the mean of the
population.(Read: The mean of the
equals myu.)

An ESTIMATE is a value, or a
range of values, that approximates the
population value. Estimates are
sample values computed from sample
information. ESTIMATION is the process
of determining parameter values.

Population parameters are


usually unknown fixed values. Based
on sample results, a parameter may
be--1.a number that descibes the
average. We call this number POINT
ESTIMATE, or
2.a range of values that contains
the true population value. This number
is called INTERVAL ESTIMATE.

In general,
a POINT ESTIMATE is a specific
numerical value of a population
parameter. The sample mean,X, is the
best point estimate of a population
mean.
an INTERVAL ESTIMATE is a range
of values that may contain the
parameter of a population.

EXAMPLE
Diminic wants to know how all the
people in a district of Manila percieve
the conduct of an earthquake drill. He
has interviewed 10 random selections
from 500 people, and then,
determined the percentages of those
who are in favor of the drill. He has
assumed that the only erroe present is
the sampling error. The following
numbers represent the mean
percentages of the ten surveys.

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