7.11
The point estimate of the population mean is often unreliable when obtained from a single sample.
So, we draw a confidence interval using some known variables obtained from that sample.
When the population standard deviation is known, the critical value at a specific confidence level is obtained from the z distribution.
However, when the population standard deviation is unknown, the critical value at a desired confidence level from the t distribution is used.
As the population and sample can be assumed to be normally distributed, the confidence limits can be expressed as follows.
At a 95% confidence level, the calculated confidence intervals in both cases would cover the population mean.
In other words, if many confidence intervals are obtained through the identical sampling method, 95% of them will contain the true population mean.
Although the confidence intervals calculated using critical t values are wider than those calculated using critical z values, they are equally accurate in predicting the population mean.
In simpler terms, not knowing the population standard deviation does not make the estimates of mean inaccurate.
Een puntschatting van het populatiegemiddelde wordt verkregen uit één enkele steekproef. Een dergelijke puntschatting vormt geen representatieve weerg…
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