ec41lecture16_handout

ec41lecture16_handout - Statistics for Economists Lecture...

Info iconThis preview shows pages 1–7. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Statistics for Economists Lecture 16 Kata Bognar UCLA Hypothesis Tests for the Population Mean P-Value Approach Unknown Statistics for Economists Lecture 16 Kata Bognar UCLA May 27, 2010 Statistics for Economists Lecture 16 Kata Bognar UCLA Hypothesis Tests for the Population Mean P-Value Approach Unknown Announcements Homework 6 will be posted this afternoon. Practice final will be posted over the weekend. Statistics for Economists Lecture 16 Kata Bognar UCLA Hypothesis Tests for the Population Mean P-Value Approach Unknown Last Lecture Hypothesis test for the population mean z-Test, critical value approach Statistics for Economists Lecture 16 Kata Bognar UCLA Hypothesis Tests for the Population Mean P-Value Approach Unknown Todays Outline 1 P-Value approach, t-test 2 Inference for population proportion 3 Readings: Weiss, Chapter 9.5 - 9.6, 12.1 - 12.2 4 Readings for next class: Weiss, Chapter 14.1 Statistics for Economists Lecture 16 Kata Bognar UCLA Hypothesis Tests for the Population Mean P-Value Approach Unknown P-Value Approach An alternative to the critical value approach of hypothesis testing. The P-value gives the probability that the test statistic takes a value that is at least as extreme as the observed value. Suppose that the observed value of the test statistic is z . if the test is two-tailed then the P-value = P ( | Z | > | z | ) . if the test is left-tailed then the P-value = P ( Z < z ) . if the test is right-tailed then the P-value = P ( Z > z ) . The P-value is called the observed significance level or the probability value. Statistics for Economists Lecture 16 Kata Bognar UCLA Hypothesis Tests for the Population Mean P-Value Approach Unknown P-Value Approach - Example 1. A health club claims that their members lose on average more than 10 pounds within the first month after joining the club. To verify this statement one collects a random sample of 36 members of the club and finds that they lost on average 10.8 pounds within the first month. The weight losses in the population follow a normal distribution with a standard deviation known to be 2.4 pounds....
View Full Document

This note was uploaded on 05/31/2010 for the course ECON 41 taught by Professor Guggenberger during the Spring '07 term at UCLA.

Page1 / 16

ec41lecture16_handout - Statistics for Economists Lecture...

This preview shows document pages 1 - 7. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online