ECN 221 Study Guide - Midterm Guide: Type I And Type Ii Errors, Null Hypothesis, Confidence Interval
Document Summary
Reject if value is not in it, all is above or all is below. Confidence interval p-value (reject null hypothesis if p-value < alpha) Null hypothesis- assumed to be true, given the benefit of the doubt. Alternative hypothesis- something you want to prove, try to put the claim. Alpha (level of significance, probability of type i error) higher=not as important(. 1) lower (. 01) more confident. Type i error- rejecting when ho is actually true. Type ii error- accpt when ho is false. Testing count data with chi-square always done as one sided, try to find x^2 cv and x^2 ts (distribution or independence) show dep or fail to show they are dept. Do not use x bar, only use parameters( mew, p) Independent samples- one sample is not effected by the other. Dependent samples (paired data)- have to have a reason to put the two values together.
