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1 March 24, 2008 It is E370 Time!!! Announcements Turn on your clickers! Today’s Goals: You should be able to T interpret a confidence interval. T explain how many confidence intervals out of 100 should have the parameter in them. T describe the intuition of a hypothesis test. T list hypotheses and their permutations. T correctly write sets of hypotheses. Next Time~~more hypothesis testing
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2 Announcements T There is a typo in the Pre-Lab Quiz for this week, on page 118 of the lab manual. Question #5 should refer you to Example problem #2 in the Confidence Interval chapter. T I would like to offer all of you the opportunity to take a team exam in conjunction with tonight’s exam. The advantage is that you can earn additional points. The team exam is voluntary. T Bring a photo ID tonight! T Room assignments are NOT the same as last time, so check the web site.
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Unformatted text preview: 817 837 857 877 897 917 937 957 977 997 1 4 7 3 6 9 2 5 8 31 61 91 10 4 What does it mean? T I am 95% confident that the actual mean amount American adults planned to spend on holiday shopping in 1999 falls between $841.75 and $872.25. Does it mean that there is a 95% chance that the amount they were going to spend is in this interval? Does it mean that 95% of folks were going to spend between $841.75 and $872.25? 5 Does it mean that we are 95% sure that a randomly selected person planned to spend between $841.75 and $872.25? Does it mean that folks planned to spend a mean of $857 95% of the time? Does it mean that 95% of all samples will have a mean between $841.75 and $872.25?...
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This note was uploaded on 04/19/2011 for the course ECON 200 taught by Professor Staff during the Winter '09 term at Indiana.

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