ECON 203 1st Edition Lecture 14Outline of Last LectureI. Z- Test Population Proportion1. FactsII. F- Test for Difference in Variances1. FactsIII. Paired Sample/ Matched Pairs T- Test Sample for Mean Difference1. FactsOutline of Current LectureI. Test Vocabulary1. Descriptive Statistics2. Inferential Statistics3. Critical ValueII. Error Chart1. Type I and Type II ErrorsIII. Chi-SquaredCurrent LectureI. Test Vocabulary1. Descriptive Statistics- Parameters = population2. Inferential Statistics- Not for population because why infer when you already have all of the data that you need?3. Critical Value will usually be given on the exam!- Usually the threshold to determine if “p” is in the reject or Do Not Reject regionII. Error Chart1. Type I and Type II ErrorsHo True Ho FalseThese 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.Ho Do Not Reject 1 – a Type II ErrorHo Reject Type I Error Significance level1 – bPower of TestIII. Chi-Squared- X² Critical Value is always the bigger percentage % and degree of freedom - 1- U Critcal Value is Z or Tn,a/2- Assume a 95% 5% test until calculating the confidence
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