ECON 203 1st Edition Lecture 12Outline of Last LectureI. Excel1. TINV()2. CHIDIST()A. How Can You Tell?3. TDIST()4. NORMSDIST() and NORMSINV()A. How Can You Tell?Outline of Current LectureI. F-test for Difference in Variances1. Parameter2. RulesII. Chi-Squared Test for variance1. What is it?2. RulesIII. ANOVA1. Rules2. RememberCurrent LectureI. F-test for Difference in Variances1. Parameter:u1 – u22. Rules- Must happen when you have an independent t-test for difference in means but you don’t know if variances are equal or unequal, use the F-test!- “Dispersion” is a key word!!- Always for difference in population means!- Rejected = unequal variances- Not rejected = Equal VariancesThese 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.II. Chi-Squared Test for Variance1. What is it? - A sample compared to a number- “Dispersion”2. Rules- Larger than F Reject unequal variances, H1 alternative- Smaller than F Do Not Reject Equal variances, Ho Null hypothesisIII. ANOVA1. Rules- If test statistic is larger than F Reject!- If it is lower than Do Not Reject!- Balanced design = same number of observations- When null is true, F is close to 12. Remember:- If you are comparing a population to another but there’s only a fixed number for the other, then it’s single
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