3-4-09 - tells you which tail! 4. Estimate t 5. Decide and...

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Economic Statistics – Class Notes – 3/4/09 Case #2 – A test population mean when the variance is NOT KNOWN : Step 1: H0: u = 30 If H0 is true , ( Xbar – u0 ) will be approximately zero. This is how we are enabling a comparison between the hypothesis and true population mean If he is not asking for where the rejection is located, simply look at the alternative hypothesis and the inequality in the alternative hypothesis
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Unformatted text preview: tells you which tail! 4. Estimate t 5. Decide and interpret Hence, the implied level of significance associated with (+/-) 1.71 is 0.0872 or 8.72% . o This probability is also known as the p-value .] o KEY: He simply calculated the value of the test statistic and then used AS IF IT WAS A CRITICAL VALUE . QUESTION : Suppose in a test with H1:...
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3-4-09 - tells you which tail! 4. Estimate t 5. Decide and...

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