Quantitative Analysis II Notes - Quantitative Analysis II...

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Quantitative Analysis II Chapter 10: One-Sample Tests of Hypothesis Leaning Objectives 1. Define a hypothesis 2. Explain the process of testing a hypothesis 3. Apply the six step procedure for testing a hypothesis 4. Distinguish between a one tailed and a two tailed test of hypothesis 5. Conduct a test of a hypothesis about a population mean 6. Compute and interpret a p-value 7. Use a t-statistic to test a hypothesis 8. Compute the probability of a Type II error Hypothesis A statement about a population parameter subject to verification Hypothesis Testing A procedure based on sample evidence and probability theory to determine whether the hypothesis is a reasonable statement Step 1: State the Null and the Alternate Hypothesis Null Hypothesis: A statement about the value of a population parameter developed for the purpose of testing numerical evidence. It is represented by H 0 Alternate Hypothesis: A statement that is accepted if the sample data provide sufficient evidence that the null hypothesis is false. It is represented by H 1
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