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Chapter 7: Estimating Parameters and Determining Sample Sizes Section 7.1: Estimating a Population ProportionS tat 50 I DESCRIPTIVE I PROBABILITY I INFERENTIAL STATISTICSIN11i0I STATISTICS+ I IL___

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What is estimating parameters and determining?

Estimating parameters and determining involves assessing and calculating key numeric values required for data analysis, budgeting, or project development to inform decision-making.

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The purpose of estimating parameters and determining is to provide a structured approach to accurately assess costs, resources, and timelines, which helps in effective planning and decision-making.

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Information reported typically includes project scope, estimated costs, timeframes, resource requirements, and any assumptions or risks associated with the estimates.

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