Title 34 Inferential Statistics.pdf ✅

MSTC 34: INFERENTIAL STATISTICS 1. Standard Error It indicates how different the population mean is likely to be from a sample mean. SE = s √n 2. Confidence interval of the mean If x is the mean of a random sample size n from a population with known variance σ 2 , a 100(1 − α)% confidence interval for μ is given by x − zα 2 σ √n < μ < x + zα 2 σ √n Where zα 2 is the z-value leaving an area of α 2 to the right. 3. Prediction interval For a normal distribution of measurements with unknown mean μ and known variance σ 2 , a 100(1 − α)% prediction interval of a future observation x0 is x − zα 2 σ√1 + 1 n < x0 < x + zα 2 σ√1 + 1 n