|May8-10, 05:25 AM||#1|
Estimation theory, need help
I got a question on estimation theory. Can anyone explain it to me or give me a link with some tut and solutions so I can get a better understanding.
I got a maths question which i have asked for help but no one has replied yet. Since it was a statistical question I should have posted it here.
The question can be found here:
I'm stuck on part (b)
The two issue I think I have with the question are that I don't understand the term "binomial proportion" and estimation theory in general. Can and one explain this to me?
|May8-10, 07:27 AM||#2|
Is the "binomial proportion" just the probability the event is successful?
i.e. for 2 coin toss with 50/ 50 chance of either H or T, the binomial proportion for 2 heads is 1/4?
Is my understanding correct... or is it something else?
|May14-10, 04:47 PM||#3|
A binomial probability is the probability that a random sample of size n will have an outcome of x. The equation is
P(x) = n!/(k!-(n-k)!) * pk * qn-k
where k is number of outcomes you want,
p is probability of an outcome,
q is probability of an outcome not happening.
For example, suppose that there are 999 voters in the US. 599 voters were in favor for a certain candidate. If I randomly select 110 voters out of the population, the probability that 56 voters will be in favor of the candidate is
110!/(56!-(110-56)!) * .599599656 * .400400454 = 2.2345492668874894732687678194543e+103 * .599599656 *q54 =
3.632743322467059575061399533725e-13 * q54
gives me a probability of 1.2443365480583675485269518116737 e-34
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