
What are the two types of inferential statistics?
 1) Estimation
 2) Hypothesis Testing

What are the two types of Estimation?
 1) Point Estimation
 2) Interval Estimation

What is the difference between the two types of Estimation?
A point estimate of a population parameter is a single value of a statistic. For example, the sample mean x is a point estimate of the population mean μ. Similarly, the sample proportion p is a point estimate of the population proportion P.
An interval estimate is defined by two numbers, between which a population parameter is said to lie. For example, a < x < b is an interval estimate of the population mean μ. It indicates that the population mean is greater than a but less than b.

The normal distribution is appropriate if what two conditions are valid?

What does it mean to fall in the shaded area labeled 95%?
The interval estimate of a confidence interval is defined by the sample statistic ± margin of error. For example, we might say that we are 95% confident that the true population mean falls within a specified range. This statement is a confidence interval. It means that if we used the same sampling method to select different samples and compute different interval estimates, the true population mean would fall within a range defined by the sample statistic ± margin of error 95% of the time.

What are the confidence coefficients of the following confidence percentages:
1) 90%
2) 95%
3) 99%
 1) ± 1.645
 2) ± 1.96
 3) ± 2.575

What are the four steps involved in testing hypotheses about population parameters?
 1) Statement of the pair of hypothesis to be tested
 2) Test statistic (formula)
 3) Make a statistical decision
 4) Nonstatistical decision

What are the three possible pairs of hypotheses and their corresponding key terms?
 1) H_{0} ≠ H_{0} affect, difference vague
 2) H_{0} > H_{0} increase, more than, greater, takes directon
 3) H_{0} < H_{0} decrease, less than, lower, takes direction

