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ReadingNotes Chapter06 Stats

This document contains reading notes on economics chapter 6 which discusses sampling distributions for means and proportions. It defines key terms like statistics, parameters, population and sample characteristics. It explains that the sample mean is a point estimator of the population mean and the sample variance is a point estimator of the population variance. It provides formulas for the standard error of the mean and proportion. Important properties of estimators are unbiasedness, meaning the estimated is centered around the true value, and consistency, meaning the estimate gets closer to the true value as the sample size increases.

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Katherine Sauer
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102 views2 pages

ReadingNotes Chapter06 Stats

This document contains reading notes on economics chapter 6 which discusses sampling distributions for means and proportions. It defines key terms like statistics, parameters, population and sample characteristics. It explains that the sample mean is a point estimator of the population mean and the sample variance is a point estimator of the population variance. It provides formulas for the standard error of the mean and proportion. Important properties of estimators are unbiasedness, meaning the estimated is centered around the true value, and consistency, meaning the estimate gets closer to the true value as the sample size increases.

Uploaded by

Katherine Sauer
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Reading Notes

Economics Dr. Sauer

Chapter 6: Sampling Distributions for Means and Proportions 6.1 Statistical inference and the sampling distribution of the mean 6.1.1 Sampling Distributions of Means and Proportions A statistic is a _________________________ characteristic. A parameter is a ________________________characteristic.

Population Characteristic Size

Sample Characteristic

Mean

Standard Deviation

Proportion

_____ is a point estimator of .

______ is a point estimator of 2.

Individual values of _____ or ______ are called a point estimate of or .

6.1.2 Point Estimates and the Sampling Distribution of the Mean The formula for the standard error of the mean is:

The Central Limit Theorem says:

6.2 Sampling Distributions of Proportions A proportion is:

The formula for standard error for proportions is:

6.3 Some Desirable Properties of Estimators Two of the most important properties of point estimators are: 1._______________________ which means:

2._______________________ which means:

Summary After we work through this chapter in class, review this section and write any notes here.

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