vault backup: 2024-01-25 13:55:30
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| Quantitative | A numerical value (7, 8, 9) |
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| Population | The entire set of existing units that investigators wish to study |
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| Sample | A portion or subset of the population |
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| Parameter | A number that describes a characteristic of a *population* (*10%* of US senators voted for something) |
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| Parameter | A number that describes a characteristic of an entire *population* (*10%* of US senators voted for something) |
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| Statistic | A number that describes a *sample* characteristic (*71%* of Americans feel that ...) |
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> A global consumer survey reported that 6% of US taxpayers used or owned cryptocurrency in 2020. The US government is interested in knowing if this percentage has increased. The University of Chicago surveys 1,004 taxpayers and finds that 13% have used or owned crypto in the past year (2021)
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@ -38,11 +38,12 @@ An ideal sample will represent the whole population.
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## Percentages
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(Ch 20, stat 1040)
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The expected value for a sample percentage equals the population percentage. The standard error for that percentage = `(SE_sum/sample_size) * 100%`
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The expected value for a sample percentage equals the population percentage. The standard error for that percentage = `(SE_sum/sample_size) * 100%`.
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To determine by how much the standard error is affected, if `n` is the sample size, the standard error changes by $\frac{1}{\sqrt{n}}$
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To determine by how much the standard error is affected, if $n$ is the proportion that the population changed by, the standard error will change by $\frac{1}{\sqrt{n}}$.
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Accuracy in statistics refers to how small the standard error is. A smaller standard error means your data is more accurate.
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You can use the below equation to find the percentage standard error of a box model that has ones and zeros. the % of ones and zeros should be represented as a proportion (EG: `60% = 0.6`).
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$$ \sqrt{\frac{(\%\space of\space 1s)(\%\space of\space 0s)}{num_{draws}}} $$(Ch 21, stat 1040)
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$$ \sqrt{\frac{(\%\space of\space 1s)(\%\space of\space 0s)}{num_{draws}}} $$
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If asked
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