Objectives: Learning objectives
-
Explain the difference between probability and inference and identify when to use which one.
-
Understand the purpose and use of a point estimate.
-
Understand how to measure the variability/error in a point estimate.
-
Recognize the relationship between the standard error of a point estimate and the standard deviation of a sample statistic.
-
Understand how changing the sample size affects the variability/error in a point estimate.