Week 7 Conduct an investigation considering the following concepts: Point estimator Confidence interval T distribution Confidence level Proportion estimation How do you determine the 95% confidence...

Week 7
Conduct an investigation considering the following concepts:
QUESTION-Point estimator
Ans- It is a process of finding an approx value of a parameter such as average of a population from the random sample of the population. Appoint estimate should be:
· Consistent
· Unbaised
· Most efficient or best unbaised
It can be calculated by various methods like:
1 – Maximum likelihood method
2 – Baysian Method
#########################################################
QUESTION-Confidence interval
Ans –
It is a type of estimate that is obtained from the statistics of observed data, It gives a range of values for a parameter that is unknown parameter like (population mean)
It has associated confidence levels that provides the probability with which an estimated interval contains the actual value of the parameter.
There are various factors that can affect width of the confidence interval.
Some of them are :
1. Size of sample
2. Confidence level
3. Variability in the sample
QUESTION - T distribution
Ans- It is a one of the type of probability...