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

Rank correlation, Rank Correlation Sometimes the characteristics whose ...

Rank Correlation Sometimes the characteristics whose possible correlation is being investigated, cannot be measured but individuals can only be ranked on the basis of the chara

The weekly treatment , A researcher is interested in comparing the effectiv...

A researcher is interested in comparing the effectiveness of three different parts of therapy for anger problems. 8 participants are randomly assigned to 3 treatment conditions: Co

Statistical keys, Statistical Keys To do statistical o...

Statistical Keys To do statistical operations we must first set the calculator on SD mode [SD stands for "standard deviation" which is the usual st

Find the rank correlation coefficient, 1. Calculate the mean and mode of: ...

1. Calculate the mean and mode of: Central size 15 25 35 45 55 65 75 85 Frequencies 5 9 13 21 20 15 8 3 The following data shows the monthly expenditure of 80 students of

Calculate the maximum weight of the engine, Determine the maximum weight in...

Determine the maximum weight in kN to one decimal point (1 DP) of the engine that can be supported without exceeding the tension given in  Parameter 1 (P1) in chain AB or 1.1 x P1

Determine best estimates of the population mean and variance, Question: ...

Question: (a) A normal distribution is thought to have a mean of 50. A random sample of 100 gave a mean of 52.6 and a standard deviation of 14.5. A significance test was carri

Admissibility, Admissibility A very common concept which is applicable ...

Admissibility A very common concept which is applicable to any procedure of the statistical inference. The underlying notion is that the procedure/method is admissible if and o

Find the minimum constant workforce, Find the minimum constant workforce: ...

Find the minimum constant workforce: ABC Company, a manufacturer of roofing supplies, has developed monthly forecasts for roofing tiles. The forecasted demand and the expected

Define sampling unit , Define sampling unit and population for selecting a ...

Define sampling unit and population for selecting a random sample in every case. a) 100 voters from a constituency b) 20 stocks of National Stock Exchange c) 50 account ho

Uses of arthematic mean, give me question on mean is the aimplest average t...

give me question on mean is the aimplest average to understand and easy to compute

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