00:01
We have some information about a sample.
00:03
We have the sample size, 504.
00:06
The sample median, let's put an m, is 2.
00:12
The mean x -bar is 3 points.
00:19
The sample standard db s is 1 .79.
00:23
This is the information we have.
00:25
What is the point estimate of the population mean? so this is our best guess.
00:31
A point estimate is our best guess of this population parameter based on the information we have.
00:37
So the best guess for mu, the population mean, is x -bar, the sample mean.
00:44
Not the median, the mean, 3 .34.
00:48
Of course it's not an actual value of the number of children a family can have, but it's a mean.
00:55
What about the standard error? so the standard error is given by sigma over root n.
01:01
We don't have sigma.
01:03
We do have s, which is the point estimate for the population standard deviation.
01:10
So we'll use s over root n.
01:14
So 1 .79 divided by root 504 is 0 .080, three decimal places.
01:30
Let's see, a confidence interval has been made.
01:33
We want to interpret it...