STATISTICAL TECHNIQUES AND TOOLS
CONCEPT OF POINT AND INTERVAL ESTIMATION
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Error
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Parameter
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Population mean
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Sample Mean
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Detailed explanation-1: -The magnitude of the difference between the individual measurement and the true value of the quantity is called the absolute error of the measurement.
Detailed explanation-2: -The standard error for the difference between two means is larger than the standard error of either mean. It quantifies uncertainty. The uncertainty of the difference between two means is greater than the uncertainty in either mean. So the SE of the difference is greater than either SEM, but is less than their sum.
Detailed explanation-3: -The standard error of the mean, or simply standard error, indicates how different the population mean is likely to be from a sample mean. It tells you how much the sample mean would vary if you were to repeat a study using new samples from within a single population.