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Statistics & Probability Flashcards: Estimating Population Parameters With Error Margin

Study Estimating Population Parameters With Error Margin in Statistics & Probability with focused flashcards that help you recognize the idea, recall the key rule, and apply it in practice-style prompts.

QUESTION

Choose the correct interpretation: "p^=0.52±0.03\hat{p}=0.52\pm^0.03" refers to pp or to the sample proportion?

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ANSWER

It estimates the population proportion pp. Interval estimates target the population parameter pp.

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This deck focuses on Estimating Population Parameters With Error Margin, giving you a quick way to review the definitions, rules, and examples that matter most for Statistics & Probability.

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Practice questions

1 of 43Practice questions for this set
A store wants to estimate the population parameter pp, the proportion of all customers who use self-checkout. A random sample of 500 customers found 310 used self-checkout, so the sample statistic is p^=310/500=0.62\hat p = 310/500 = 0.62 (62%). Students ran a simulation of 1,000 repeated random samples of size 500 and found that about 95% of simulated sample proportions were between 0.58 and 0.66. What margin of error is supported by the simulation for estimating the population parameter pp? (Express your answer as a percent.)
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