Lecture 6 2010 - Hypothesis Test Did Amherst Home Prices...

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h Hypothesis Test – Did Amherst Home Prices Increase in 2007? 1. Hypothesis: H 0 : μ Y $367,977 ; H A : μ Y > $ $367,977 . 2. Level of Significance: α = 0.05 3. Determine the critical values: (n = 49) 4. Select a sample and estimate ( done! ). Calculate your test statistic. 5. Compare – where does your test statistic fall? 6. Conclusion: h Hypothesis Test – Did Amherst Home Prices Increase in 2007? Suppose we use two samples. 1. Hypothesis: H 0 : μ 07 μ 06 ; H A : μ 07 > μ 06 . 2. Level of Significance: α = 0.05 3. Excel determines the critical value. 4. Select sample of 2006 prices and 2007 prices. Excel estimates and calculates your test statistic. 5. Compare – where does your test statistic fall? 6. Conclusion: I. Introduction II. Statistical and Notational Preliminaries A. Introduction B. Elements of Statistical Theory 1. Prerequisites: Summarizing distributions, point estimation, interval estimation, hypothesis testing. 2. Bivariate measures: covariance and
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This note was uploaded on 12/08/2011 for the course ECON 312 taught by Professor Daniellass during the Winter '10 term at UMass (Amherst).

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Lecture 6 2010 - Hypothesis Test Did Amherst Home Prices...

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