BCOR 1020 Business Statistics

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BCOR 1020Business Statistics

• Lecture 28 May 1, 2008

2
Overview

• Final Exam Review

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Final Exam - Review

• Inferences on Population Parameters
• Unbiased Estimators
• Sample Average estimates Population Average, m.
• Sample Std. Dev. estimates Population Std. Dev.,
  s.
• Sample Proportion estimates Population
  Proportion, p.
• When to use Z
• Population proportion, p
• Population mean(s), m(s), when s(s) known
• When to use T
• Population mean(s), m(s), when s(s) unknown
• Use S in place of s

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Final Exam - Review

• General form of a 100(1-a) Confidence Interval
• Sample Est. Dista/2(SE of Sample Est.)
• b
• (Za/2 or Ta/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 b0 and b1
• 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?