Sampling distributions

Welcome back dear student! In this lab, we'll lay the foundations for statistical inference. You'll learn a lot in this two part lab, but don't be intimidated, perseverance will be rewarded!

In Part A of this lab, we investigate the ways in which the statistics from a random sample of data can serve as point estimates for population parameters. We're interested in formulating a sampling distribution of our estimate in order to learn about the properties of the estimate, such as its distribution.

We consider real estate data from the city of Ames, Iowa. The details of every real estate transaction in Ames is recorded by the City Assessor's office. Our particular focus for this lab will be all residential home sales in Ames between 2006 and 2010. This collection represents our population of interest (which is rare to have access to), but we will also work with smaller samples from this population.

Start by loading the data: http://s3.amazonaws.com/assets.datacamp.com/course/dasi/ames.RData.
The RData-file contains the data frame ames. After loading the data, have a look at your data frame using the techniques you learned.

Take Hint (-30 XP)

Exercise

Sampling distributions

Instructions