Statistics for
Business and Economics
ECO 3150 B
Lecture 8
Hypothesis Testing:
Single Population
Lecture 9 ECO3150B Ottawa U
Ch. 9-1
Lecture Goals
After completing this Lecture, you should be
able to:
Formulate null and alternative hypotheses for
applicat
Exercises
Lecture 4
Discrete Random Variables and Probability Distributions
THE NEXT TWO QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
The following table displays the joint probability distribution of X and Y.
Y
1.
1
2
3
X
1
0.08
0.14
0.16
0
0.09
0.1
Exercises
Lecture 5
Continuous Random Variables and Probability Distributions
THE NEXT FOUR QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
The amount of time you have to wait at a particular stoplight is uniformly distributed between
zero and two minut
Hypothesis Testing: Single Population
CHAPTER 9
Hypothesis Testing: Single Population
1.
A professor of statistics claimed that the average amount of money a typical college student
spends per day during spring break is over $70. Based upon previous resea
Exercises
Lecture 3
Probability
THE NEXT TWO QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
Teds Surfboard Shop makes surfboards by hand. The number of surfboards that Ted makes in a
week depends on the wave conditions. Ted has estimated the following
CHAPTER 7
Estimation: Single Population
Multiple-Choice Questions
1.
Consider two random variables, Y and Z, where Y follows a t-distribution with n-1 degrees
of freedom and Z follows a standard normal distribution. Consider the following two
expressions:
Exercises
Lecture 6
Sampling and Sampling Distributions
THE NEXT FOUR QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
Suppose you flip a coin four times. For every head, you receive one point, and for every tail, you
lose one point.
1.
Develop the sampl
Statistics for
Business and Economics
ECO 3150 B
Lecture 5
Continuous Random Variables
and Probability Distributions
Lecture 5 ECO3150B Ottawa U
1
Lecture Goals
After completing this Lecture, you should be
able to:
Explain the difference between a discret
Statistics for
Business and Economics
ECO 3150 B
Lecture 7
Estimation: Single Population
Lecture 7 ECO3150B Ottawa U
Ch. 7-1
Lecture Goals
After completing this Lecture, you should be
able to:
Distinguish between a point estimate and a confidence
interval
Statistics for
Business and Economics
ECO 3150 B Ottawa
Lecture 2
Describing Data: Numerical
Lecture 2 ECO3150B Ottawa U
1
Lecture Goals
After completing this Lecture, you should be able to:
Compute and interpret the mean, median, and mode for a
set of da
Statistics for
Business and Economics
ECO 3150 B
Lecture 4
Discrete Random Variables and
Probability Distributions
Lecture 4 ECO3150B Ottawa U
1
Lecture Goals
After completing this Lecture, you should be
able to:
Interpret the mean and standard deviation
Statistics for
Business and Economics
ECO 3150 B
Chapter 6
Sampling and
Sampling Distributions
Lecture 6 ECO3150B Ottawa U
Ch. 6-1
Chapter Goals
After completing this chapter, you should be able to:
Describe a simple random sample and why sampling is
impo
Statistics for
Business and Economics
ECO 3150 B
Lecture 3
Probability
Lecture 3 ECO3150B Ottawa U
1
Lecture Goals
After completing this Lecture, you should be
able to:
Explain basic probability concepts and definitions
Use a Venn diagram or tree diagra