BCOR 1020 Business Statistics Lecture 28 – May 1, 2008.

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Presentation transcript:

BCOR 1020 Business Statistics Lecture 28 – May 1, 2008

Overview Final Exam – Review

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 

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

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

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

Final Exam - Review Chi Square Tests Goodness of Fit Independence

Questions?