Solution-Standard deviation of a point estimator

Standard deviation of a point estimator

Reference no: EM131099681

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Standard error refers to the standard deviation of a point estimator, it is helpful in determining how far the sample mean may be from the population mean. More data provided by the larger sample size, the sample mean based on 225 should provide a better estimate of the population mean than the sample mean based on 100. Lets say that the Standard deviation o = 4000. (# based in book) Using the formula for standard error = (σ/√n) the standard error for 100 is 400 and for 225 that standard error is 266.66. because that standard deviation of 225 is smaller the of expected value has less variation and tend to be closer to the population mean than the values of expected value with 100. Basically the larger the same size the less error there is because you are closer to the original population.

Reference no: EM131099681

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Standard deviation of a point estimator : Standard error refers to the standard deviation of a point estimator, it is helpful in determining how far the sample mean may be from the population mean. More data provided by the larger sample size, the sample mean based on 225 should provide a..

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Standard deviation of a point estimator

Reference no: EM131099681

Reference no: EM131099681

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