Identify the statistic that is used to estimate

(a) A population mean.

(b) A population standard deviation.

Short Answer

Expert verified

(a) Population mean can be calculated using μ=(x)/N

(b) Population standard deviation can be calculated usingσ=([(x-u)2]/N)1/2

Step by step solution

01

Part(a) Step 1: Given information 

We need to explain statistics used in population mean

02

Part(a) Step 2: Explanation

The population is essentially a collection of items in statistics. This can be in the form of numbers, objects, or anything else. As a result, the population mean is simply the average of this set of things. It's usually used to find the data set's center.

A formula for Population Mean(μ)is given by:

Population Mean = Sum of All the Items / Number of Items

μ=x/N

Where,

localid="1650969516929" Xdenotes total number of observed values.

localid="1650969521830" Ndenotes number of observations in the population.

03

Part(b) Step 1: Given information 

We need to find the statistic used in estimating population standard deviation

04

Part(b) Step 2: Explanation

The square root of the variance of a set of integers is the population standard deviation. It's used to calculate a confidence interval before making a decision.

Following is the procedure to calculate population standard deviation:

1. Calculate the mean.

2. For each number: Subtract the mean. Square the result.

3. Calculate the mean of the squared differences calculated in step 2. Mean of these squared numbers is variance.

4. Take the square root variance to obtain the population standard deviation.

Formula is

σ=([(x-u)2]/N)1/2

localid="1650702959726" σdenotes population standard deviation

localid="1650969545859" x is an individual value

localid="1650702970961" uis the average of the population

localid="1650702976570" Nis the total number of the population

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