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Sampling for Variance in a Population

Author

Listed:
  • Stacey, Brian

Abstract

Determining confidence intervals for a population µ estimate from a sample ¯x with a either a known or an unknown population σ use similar methods. The more data one has to begin with the better will be the estimate, so knowing the standard deviation of the population will provide a better estimate of the mean. In our case we have no data to begin with so must collect the data to build our estimates. This eliminates the possibility of estimating the confidence interval of µ with a known σ, which is the better of the estimates, and has a narrower range. The data collection and calculation of s and ¯x will be necessary in our case. Once those two estimators are calculated, finding the confidence interval is an easy task.

Suggested Citation

  • Stacey, Brian, 2015. "Sampling for Variance in a Population," MPRA Paper 69381, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:69381
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    More about this item

    Keywords

    Sampling; Statistics;

    JEL classification:

    • C10 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - General
    • C13 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Estimation: General

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