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Estimating Population Parameter

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Post 1: Initial Response
After completing your readings for this unit, think about and share your response to the following questions:
1. Offer at least two examples of a population parameter that you cannot calculate, but that you can estimate. Some examples might be the true percentage of the number of bass in Lake Erie or the mean hours of sleep per night for all U.S. college students. In your own words, why do you think it is impossible to know the actual value of any population parameter?
2. A sample can be used to estimate a population parameter. How does the sample size affect the estimate?
3.To estimate a population parameter (such as the population mean or population proportion) using a confidence interval first requires one to calculate the margin of error, E. The value of the margin of error, E, can be calculated using the appropriate formula. The formula depends on whether one is estimating a mean or estimating a proportion.
a. The Margin of Error, E, for a 95% confidence interval for means is: E=1.96s/√n where s is the sample standard deviation and n is the sample size.
b. Invent a quantitative variable, such as age, weight, exam score, etc. Thinking about that variable, create a small set of data (30 data values) to describe that variable. Use Excel to calculate the sample mean of your data and the sample standard deviation. If you create 30 values, the sample size is 30. Then, calculate the margin of error.

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Unit 9 Discussion Post
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Unit 9 Discussion Post
1. Some of the parameters that are difficult to estimate include the average household income of individuals worldwide and the average number of young people driving across the globe. It is difficult to estimate the population due to time constraints (collection of the data is hectic and will consume a significant amount of resources, hence leading to high costs. Besides, the population is extremely wide, which increases uncertainty by using the sample size.
2. The estimation is more accurate because the researcher possesses more data and thus more information. If the researcher decides to increase the sample size, the expected confidence that exists in the estim...
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