Shared Flashcard Set

Details

1- Business Statistics 2 01
1- Business Statistics 2 01
22
Business
Undergraduate 3
02/26/2018

Additional Business Flashcards

 


 

Cards

Term
75th Percentile
Definition
Third Quartile
Term
Variance Formula
Definition
Standard Deviation Squared
Term
Standard Deviation Formula
Definition
Square Root of Variance
Term
Margin of Error Formula
Definition
(za/2)*(standard deviation/sqrt(n))
Term
The Center of a normal curve is,
Definition
Is the mean of the distribution.
Term
For standard normal distribution, the area of the left of the mean is
Definition
.5
Term
Sampling distribution of x-bar is
Definition
Probability distribution of the sample mean
Term
As the number of degrees of freedom for a t-distribution increases, the difference between the t distribution and the standard normal distribution
Definition
Becomes Smaller
Term
As the sample size increases, the margin of error
Definition
Decreases
Term
When constructing a confidence interval for the population mean and the standard distribution of the sample is used, the degrees of freedom for the t-distribution equals
Definition
n-1
Term
The probability of committing a Type I error when the null hypothesis is true is ________ and denoted by ________.
Definition
level of significance, alpha
Term
The probability of committing a Type II error is denoted by
Definition
beta
Term
If a hypothesis is rejected at 5% significance it,
Definition
May or may not be rejected at the 1% level of significance
Term
When do you use t?
Definition
sample standard deviation
Term
When do you use z?
Definition
population standard deviation
Term
p0 is what?
Definition
Hypothesized Value
Term
How Do You Find P?
Definition
Searching the test statistic in the chart.
Term
How Do You Do A Test Statistic Chart Search in the t-chart?
Definition
df on the y-axis, ta/2 on the x-axis
Term
Confidence 90%
Definition
a = 10
a/2 = 5
za/2 = 1.645
Term
Confidence 95%
Definition
a = 5
a/2 = 2.5
za/2 = 1.96
Term
Confidence 98%
Definition
a = 2
a/2 = 1
za/2 = 2.326
Term
Confidence 99%
Definition
a = 1
a/2 = .5
za/2 = 2.576
Supporting users have an ad free experience!