UIUC ECON 203 - Stastitical Inference Single Population Variance (2 pages)

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Stastitical Inference Single Population Variance



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Stastitical Inference Single Population Variance

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Lecture number:
5
Pages:
2
Type:
Lecture Note
School:
University of Illinois at Urbana, Champaign
Course:
Econ 203 - Economic Statistics II

Unformatted text preview:

ECON 203 1st Edition Lecture 5 Outline of Last Lecture I Review of key class features 1 Office Hours 2 Homework II Aplia Homework 2 1 Hypothesis Testing Example 12 i Relevant Point Estimate ii Value of Test Statistic iii P value iv Type I error conclusion Current Lecture Outline I Statistical Inference Single Population Variance 1 Data Set 2 When to use variance 3 Transformation 4 Chi Squared 5 Example slide 8 page 46 6 P Value 7 Example slide 11 page 48 Current Lecture I Statistical Inference Single Population Variance 1 Data Set Will always be one data set 2 When to use variance Wanting to find consistence of a production Assessing risk of investment 3 Transformation S 2 becomes X 2 through the formula n 1 s 2 standard dev 2 Takes us from sample distribution to standardized distribution 4 Chi Squared Looks like X 2 Non negative distribution These notes represent a detailed interpretation of the professor s lecture GradeBuddy is best used as a supplement to your own notes not as a substitute The number in the bottom right corner of chi squared is always on the right side of the distribution graph 5 Example on slide 8 page 46 Do not reject null hypothesis because insufficient evidence to prove alternative 6 P Value Always the area on the graph between chi squared and the end of the rejection region 7 Example on slide 11 page 48 19 5 7 4 0 27 075 Chi squared 05 19 30 14353 Do not reject H0 Insufficient evidence



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