What is it meant by the term “parameter of a population”? Explain why a population can be represented by a random variable.What is a point estimate, and an unbiased point estimate? Explain how the sample mean can be an unbiased estimate of the population mean. How do you justify that the sample variance is an unbiased estimate of the population variance? What is the sampling requirement in the latter case? Provide a numerical example of estimating the mean, the variance, and the standard deviation.Please define each of the following terms, discuss applicability and significance of each: sample statistic, standard error, sampling distribution, and central limit theorem. Include hypothetical examples for better clarity. What is the z statistic and what qualifies a statistic to be z statistic based on the central limit theorem and the basic properties of normal distributions? What are the limitations of the central limit theorem, and how some of these limitations are bypassed? For example, the z statistic as the sampling distribution in estimating a proportion.What is the sampling distribution in estimating the variance of a population? What are the properties of this distribution?What is the alternative of z statistic for normally distributed populations which eliminates some limitations of the central limit theorem? How this sampling distribution is constructed as a combination of a z distribution and a chi squared distribution? What are the properties of this distribution? (To provide numerical examples to answer questions mentioned above, for example, in the third item above, you can use the Excel function RAND to generate a sample of a uniform random variable, and the combination of RAND and NORM.INV to generate a sample of a normal random ).Please use APA format with peer reviewed references .

Required ResourcesRead/review the following resources for this activity:Textbook: Chapter 8LessonScenario/SummaryYou will complete a Course Project in this course that will span two weeks. The final project is due the Sunday of Week 7. The project is broken into two parts. You will complete Part I in Week 6 and Part II in Week 7. In Week 6, Confidence Intervals will be explored and in Week 7 Hypothesis testing will be explored.A confidence interval is a defined range of values such that there is a specified probability that the value of a parameter lies within the interval.In Part I of this project, you will pick a topic, complete research and provide a write-up that includes calculations. Round all values to two decimal places when appropriate.DeliverablesChoose a Topic where you can gather at least 50 pieces of data.Examples of TopicsThe Golden Gate Warriors Points Per Game in 2016 (use the points scored in the first 50 games).High School Graduation Rates by State (use the graduation rates for all 50 states)Average Tuition Rates in the US (You have to find the tuition rates of 50 college/universities).The prices of a hotel room per night in a major city (You have to find the price of the same night of hotels in one city).Weights of 50 babies at birth.Write at least a 1-Page ReportOpen a Word DocumentIntroduction--Provide a description of your topic and cite where you found your data.Sample Data—Include a 5x10 table including your 50 values in your report. You must provide ALL of your sample data.Problem Computations—For the topic you chose, you must answer the following:Determine the mean and standard deviation of your sample.Find the 80%, 95%, and 99% confidence intervals.Make sure to list the margin of error for the 80%, 95%, and 99% confidence interval.Create your own confidence interval (you cannot use 80%, 95%, and 99%) and make sure to show your work. Make sure to list the margin of error.Problem Analysis—Write a half-page reflection.What trend do you see takes place to the confidence interval as the confidence level rises? Explain mathematically why that takes place.Provide a sentence for each confidence interval created in part c) which explains what the confidence interval means in context of topic of your project.Explain how Part I of the project has helped you understand confidence intervals better?How did this project help you understand statistics better?Required SoftwareMicrosoft Office: Word and ExcelUse a personal copy or access the software at https://application.chamberlain.edu (Links to an external site.).GradingThis activity will be graded based on the Course Project grading rubric. You can view the rubric below.Course Outcomes (CO): 6Due Date: Course Project Part I By 11:59 p.m. MT on Sunday of Week 6RubricWeek 6 Project: Part IWeek 6 Project: Part ICriteriaRatingsPtsThis criterion is linked to a Learning OutcomePart I: Topic & Introduction4.0 ptsProficient Student picks appropriate topic, provides a description of topic and the cites where data was found.3.0 ptsAbove Average Student picks appropriate topic and introduces data. No citation.2.0 ptsAverage. Student does not pick a topic that is appropriate for the project, introduces the data but does not cite source.1.0 ptsNeeds Improvement Students provides topic without descritption and citation.0.0 ptsNo Effort. No topic, descritpion or citation is provided.4.0 ptsThis criterion is linked to a Learning OutcomePart I: Sample Data4.0 ptsProficient Student provides ALL 50 pieces of data.3.0 ptsAbove Average Student provides 30-49 pieces of data.2.0 ptsAverage Student provides 20 - 29 pieces of data.1.0 ptsNeeds Improvement Student provides 1-19 pieces of data.0.0 ptsNo Effort. No Data was provided.4.0 ptsThis criterion is linked to a Learning OutcomePart I: Mean & Standard Deviation5.0 ptsProficient Mean & Sample Standard Deviation of the data set is correct with no rounding error. .4.0 ptsAbove Average Mean & Sample Standard Deviation of the data set is correct but with roujnding error.3.0 ptsAverage One Value (either mean or sample standsrd deviation) is correct but the other is not correct.1.0 ptsNeeds Improvement Both the Mean & Sample Standard Deviation are incorrect but it was attempted.0.0 ptsNo Effort. The mean and sample standard deviation5.0 ptsThis criterion is linked to a Learning OutcomePart I: Constructing the 80%, 95%, 99% Confidence Intervals15.0 ptsProficient Computes the 80%, 95%, and 99% confidence intervals correclty making sure to note the margin of error for each.12.0 ptsAbove Average Computes the 80%, 95%, and 99% confidence intervals correclty but is missing margin of errors (or some of the margin of errors are incorrect).10.0 ptsAverage Computes the 80%, 95%, and 99% confidence intervals but there are some errors in the calculations.6.0 ptsNeeds Improvement Computes the 80%, 95%, and 99% confidence intervals but all of the values are incorrect. The component was attempted.0.0 ptsNo Effort. No Confidence Intervals are provided.15.0 ptsThis criterion is linked to a Learning OutcomePart I: Creating a new confidence interval7.0 ptsProficient. Student computes a confidence interval (not 80%, 95%, 99%) correctly making sure to list the margin of error.5.0 ptsAbove Average. Student computes a confidence interval (not 80%, 95%, 99%) correctly making sure to list the margin of error but there is rounding error.4.0 ptsAverage. Student computes a confidence interval (not 80%, 95%, 99%) correctly but does not highlight the margin of error.3.0 ptsNeeds Improvement Student computes a confidence interval (not 80%, 95%, 99%) but it was not done correctly.0.0 ptsNo Effort. The student did not create a new confidence interval.7.0 ptsThis criterion is linked to a Learning OutcomePart I: Problem Analysis10.0 ptsProficient. Student addresses trend that takes place when the confidence level rises. Provides a sentence for each confidence interval created explaining what the confidence interval means in context of the data collected. Provides a reflection for Part I of the project.8.0 ptsAbove Average. Student addresses trend that takes place when the confidence level rises. Provides sentences for each confidence interval created explaining what the confience interval means in context of the data collected. Does NOT provide a Reflection.7.0 ptsAverage. Student may or may not address the trend that takes place when the confidence level rises. Provides a sentence for SOME confidence intervaSl created explaining what the confidence interval means in context of the data collected. A reflection Part I of the project may or may not be provided.5.0 ptsNeeds Improvement. Majority of the analysis is missing.0.0 ptsNo Effort. No Problem Anaylsis is provided.10.0 ptsTotal Points: 45.0PreviousNext