ECON 250 Chapter Notes - Chapter 4.1-6.4: Binomial Distribution, Random Variable, Sample Space

• School: Queen's University
• Department: Economics
• Course: ECON 250
• Professor: Jason Rhinelander

Document Summary

Independent trials: the outcome of one trial should not influence the outcome of the next. 40% occur one way 20% occur another, the other. 40% is also one of the two results. ]) 5. 3 the binomial distributions: the binomial settings, there are a fixed number of observations. Wednesday november 9th, 2016: p-value: the probability, computed assuming h0 is true. If we set alpha to = 0. 05 we are requiring that the data give evidence against. H0 so strong that it would happen no more than 5% of the time when h0 is true. If the p-value is as small or smaller than alpha we say that the data are. 6. 4 power and inference as decision: the probability that a fixed level alpha test will reject h0 when a particular alternative value of the parameter is true is called the power of a test.