We are concerned with making inferences about entire populations based on certain samples of data. We will be using hypothesis tests along with different estimation tests in order to gain a better understanding of populations, given samples of data.
The key topics that we will cover in this chapter are as follows:
Recall that, in the previous chapter, we mentioned how difficult it was to obtain a population parameter; so, we had to use sample data to calculate a statistic that was an estimate of a parameter. When we make these estimates, we call them point estimates.
A point estimate is an estimate of a population parameter ...