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BCOR 1020 Business Statistics Lecture 28 – May 1, 2008

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Overview Final Exam – Review

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Final Exam - Review Inferences on Population Parameters… Unbiased Estimators: –Sample Average estimates Population Average, . –Sample Std. Dev. estimates Population Std. Dev., . –Sample Proportion estimates Population Proportion, . When to use Z: –Population proportion, –Population mean(s), (s), when (s) known When to use T: –Population mean(s), (s), when (s) unknown Use S in place of

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Final Exam - Review General form of a 100(1- )% Confidence Interval: Sample Est. + Dist /2 (SE of Sample Est.) (Z /2 or T /2 )

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Final Exam - Review Elements of a Hypothesis Test: –Level of Significance –Null Hypothesis (includes equality) –Alternative Hypothesis (Strict inequality; what we hope to demonstrate) –Test Statistic (Z or T) –Decision criteria Fixed level or p-value

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Final Exam - Review Correlation and Regression Significance of Correlation Linear Regression Model Regression Output –Tests on b 0 and b 1 –Coefficient of Determination - Correlation Model Assumptions and Residuals

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Final Exam - Review Chi Square Tests Goodness of Fit Independence

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Questions?

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