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Unformatted text preview: Stat 350 Gunderson Lecture Notes (pages 118 and 128) Page 118: The Beauty of p-values: Suppose the significance level is set at 5% for testing H : status quo versus H a : the new theory. If p-value is Statistical Decision Feasible Conclusion about the New Theory 0.462 Fail to Reject H Not even close to significant at the 5% level (may want to toss the new theory into the trash) 0.063 Fail to Reject H Just missed being significant at the 5% level Was the finding practically important? Maybe another study? With larger sample size? 0.041 Reject H Significant at the 5% level Support for the new theory 0.003 Reject H Very significant strong support for the new theory. Page 128 Try It! MBA grads Salaries Its a good year for MBA grads was the title of an article in the Ann Arbor News, (5/30/05). One of the parameters of interest was the population mean expected salary, (in dollars). A random sample of 1000 students who finished their MBA this year (from 129 (in dollars)....
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This note was uploaded on 03/27/2008 for the course STAT 350 taught by Professor Gunderson during the Winter '08 term at University of Michigan.
- Winter '08