Applications of standard error, Applied Statistics

Assignment Help:

Applications of Standard Error

 

  1. Standard Error is used to test whether the difference between the sample statistic and the population parameter is significant or is due to sampling fluctuations.

  2. Standard Error is used to find the precision of the sample estimate of a population parameter. If a statistic θ is used to estimate the parameter, then precision of θ = 56_applications of standard error.png

  3.   It is used to find the interval estimate of a population parameter

 

 

Example 

 

A population consists of four numbers 3, 4, 2, 5. Consider all possible distinct samples of size two and verify that the population mean is equal to the mean of the sample means.

The population mean (μ) = (3 + 4 + 2 + 5) / 4 = 3.5

All possible distinct samples of size two and the corresponding sample means are shown in the following table.

Samples of Size Two and their Sample Means

Sample No.

Samples

Total of the sample values

Sample mean
 [Col. 3] ÷ 2


(1)

(2)

(3)

(4)

1

3,4

7

3.5

2

3,2

5

2.5

3

3,5

8

4.0

4

4,2

6

3.0

5

4,5

9

4.5

6

2,5

7

3.5

Total

...

...

21.0

[Sampling used in the above table is random sampling without replacement and the no. of samples = 4C2 = 6].

Mean of sample means = 21.0/6 = 3.5

Hence, the population mean = 3.5 = the mean of the sample means.


Related Discussions:- Applications of standard error

Evaluate gross reproduction rate, Evaluate Gross Reproduction Rate: Fr...

Evaluate Gross Reproduction Rate: From the data given below compute : i)   General  Fertility  Rate ii)  Specific  Fertility  Rate iii)  Total  Fertility  Rate iv)

Transformation of data, PCA is a linear transformation that transforms the ...

PCA is a linear transformation that transforms the data to a new coordinate system such that the greatest variance by any projection of the data comes to lie on the first coordinat

Stata question, i am new to stata and i am trying to figure out how to calc...

i am new to stata and i am trying to figure out how to calculate expected growth of sales tax revenue as well as average growth rate of sales tax revenue in stata. I have a dataset

Calculate the damping ratio for each system, (i) Plot the step responses of...

(i) Plot the step responses of the following second order systems and state the nature of each system. For each case, find the poles and plot the location of the poles in the compl

Level process control lab, Based on the following graphs (next page) you sh...

Based on the following graphs (next page) you should write a discussion report (2 pages) on: 1. Determination of whether the open-loop system response is consistent with a 1st o

Data project, Dr. Jim Mirabella UNIT EIGHT: DATA ANALYSIS PROJECT All Excel...

Dr. Jim Mirabella UNIT EIGHT: DATA ANALYSIS PROJECT All Excel output should be copied into a single Word document where you must enter all of your responses to the questions below.

Calculate unbiased estimate of the variance, This question has two parts wi...

This question has two parts with multiple items to answer. You are a psychologist who has collected the subjective well-being scores of a number of elderly people aged 90 or abo

Utility index , If the economy does well, the investor's wealth is 2 and if...

If the economy does well, the investor's wealth is 2 and if the economy does poorly the investor's wealth is 1. Both outcomes are equally likely. The investor is offered to invest

Disadvantages of mode, Disadvantages The value of mode cannot always...

Disadvantages The value of mode cannot always be determined. In some cases we may have a bimodal series. It is not capable of algebraic manipulations. For example, from t

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd