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Estimation of Parameters

This document defines parameter estimation as making inferences about a population based on a sample. It discusses point estimates, which are sample means that estimate population parameters, and interval estimates, which provide a range of values that may contain the estimated parameter. It then provides examples of calculating confidence intervals for differences between two population means and determining a 99% confidence interval for the leanness of a new pack of beef based on sample data.

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Christian Casem
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170 views84 pages

Estimation of Parameters

This document defines parameter estimation as making inferences about a population based on a sample. It discusses point estimates, which are sample means that estimate population parameters, and interval estimates, which provide a range of values that may contain the estimated parameter. It then provides examples of calculating confidence intervals for differences between two population means and determining a 99% confidence interval for the leanness of a new pack of beef based on sample data.

Uploaded by

Christian Casem
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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ESTIMATION OF PARAMETERS PRESENTED BY:

JESSICA S. VELASCO, MSECE


DEFINITION:
ESTIMATION – the process of making inferences about a population
based on information obtained from the sample

POINT ESTIMATE – the sample mean of the population or mean µ. It is the


numerical value which gives an estimate of a parameter.
INTERVAL ESTIMATE – a range of values used to estimate the parameter. It can be
calculated using two numbers or values which may or may not contain the value of the
parameter being estimated.
CONFIDENCE INTERVAL FOR THE DIFFERENCE BET.
2 POPULATION MEANS
EXAMPLE 2
What is the percentage distribution of the 13.6
million peso average manufacturing profit of the 25
products of a certain company with a standard
deviation of 1.56 million pesos, if the average
manufacturing profit of all the company’s product is
12.9 million pesos? Assume that the data follow a t-
distribution.
EXAMPLE # 3
A meat inspector has randomly selected 30 packs
of 95% lean beef. The sample resulted in a mean
of 96.2% with a standard deviation of 0.8%. Find
a 99% interval for the leanness of a new pack.

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