Explain How You Would Work with an Excel Spreadsheet on SkyDrive

question 9

Essay

Explain how you would work with an Excel spreadsheet on SkyDrive and when you need to use the full version of Excel.

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Definitions:

Point Estimate

A single value that serves as the best guess or most likely value for a population parameter based on sample data.

Population Parameter

A numerical value that describes a characteristic of a population, such as mean, standard deviation, proportion, etc., usually estimated through samples.

Larger Sample Sizes

Refers to increasing the number of observations in a study to improve the reliability and validity of statistical inferences.

Unbiased Estimators

Statistical estimators that, on average, hit the true parameter value of a population, not systematically overestimating or underestimating it.