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ec41lecture15

# ec41lecture15 - Statistics for Economists Lecture 15 Kata...

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Statistics for Economists Lecture 15 Kata Bognar UCLA Hypothesis Testing Forming Hypotheses Logic of Hypothesis Testing Decision Rule Hypothesis Test for the Population Mean Hypothesis Test for the Mean with Known Population Standard Deviation (z-Test) Statistics for Economists Lecture 15 Kata Bognar UCLA November 23, 2010

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Statistics for Economists Lecture 15 Kata Bognar UCLA Hypothesis Testing Forming Hypotheses Logic of Hypothesis Testing Decision Rule Hypothesis Test for the Population Mean Hypothesis Test for the Mean with Known Population Standard Deviation (z-Test) Announcements Homework 5 solutions will be posted tomorrow. Homework 6 will be posted on Thursday.
Statistics for Economists Lecture 15 Kata Bognar UCLA Hypothesis Testing Forming Hypotheses Logic of Hypothesis Testing Decision Rule Hypothesis Test for the Population Mean Hypothesis Test for the Mean with Known Population Standard Deviation (z-Test) Last Lecture z-Interval procedure t-Interval procedure

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Statistics for Economists Lecture 15 Kata Bognar UCLA Hypothesis Testing Forming Hypotheses Logic of Hypothesis Testing Decision Rule Hypothesis Test for the Population Mean Hypothesis Test for the Mean with Known Population Standard Deviation (z-Test) Today’s Outline 1 Hypothesis testing 2 z-Test 3 Readings: TH, Chapter 4.3 Suggested readings: WS, Chapter 9.1 - 9.4 W, Chapter 9 4 Readings for next class: TH, Chapter 4.3
Statistics for Economists Lecture 15 Kata Bognar UCLA Hypothesis Testing Forming Hypotheses Logic of Hypothesis Testing Decision Rule Hypothesis Test for the Population Mean Hypothesis Test for the Mean with Known Population Standard Deviation (z-Test) Hypothesis Testing - Motivation Is networking a more productive approach to job search than pursuing newspaper ads? Do people prefer aisle seats to window seats on an airplane? Was the average charitable contribution by individuals the same in 2009 as in 2008? Do the cans of a soft-drink company really contain 12 ounces of the drink on average?

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Statistics for Economists Lecture 15 Kata Bognar UCLA Hypothesis Testing Forming Hypotheses Logic of Hypothesis Testing Decision Rule Hypothesis Test for the Population Mean Hypothesis Test for the Mean with Known Population Standard Deviation (z-Test) Hypothesis Testing - Example Transaction times at the ATMs of a particular bank have a distribution with mean 270 and standard deviation 24 seconds. A company selling teller machines claims that a new software reduces the transaction time. To verify this statement we collect a random sample of 64 transaction times for machines using the new software. Suppose that the mean length of transaction for the sample is 260 seconds. How would you evaluate the claim of the company?
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