QUIZ 1-1 PREPARATION: 1) Reread the first three Module 1 Objectives -- in the Learning Guide. 2) Review the Module 1 Class Notes 1-2 and Practice Exercises for classes 2-5. 3) Review the HW 2-5 Solution Guides. Overview: Module 1, Inference: Answering Questions about a Population based on a sample. STATISTICAL INFERENCE INVOLVING HYPOTHESES / BUSINESS CLAIMS ISSUE Some group (s) and a key property (variable) Always use BUS QUES BFDA DATA Sample from the group with values of the property (variable). Assumptions/conditions Always use ANALYSIS The Appropriate Statistical Hypothesis Test 6 step Hyp 1 Hypotheses: Ho: Will always include an equality that will be tested. Testing Ha: The business question as an inequality statement 2. Test Stat: Define what will be calculated (and examined) from the sample Identify, if Ho is true, the sampling distribution of this test statistic. 3. Sig Level:
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