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##### ECO 6416 - Applied Business Research Tools - UCF Study Resources
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###### Validity

School: UCF

Course: Applied Business Research Tools

12/2/2009 Applied Business Tools ECO 6416 Assessing Validity Validity of Studies Based on Multiple Regression Step back and take a broader look at regression: Is there a systematic way to assess/critique regression studies? strengths and pitfalls? 1 2

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• ###### exercise-normal dist with Key
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###### Exercise-normal Dist With Key

School: UCF

Course: Applied Business Research Tools

ECO 6416 - Dr. Dickie - Exercise - Normal Distribution Normal Distribution Tables required for this exercise Problem 1. Scores on a recent national statistics exam were normally distributed with a mean of 80 and a standard deviation of 6. a. b. c. What is

• 1 Page
• ###### What Is the Margin of Error-ECO6416
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###### What Is The Margin Of Error-ECO6416

School: UCF

Course: Applied Business Research Tools

What Is the Margin of Error? Estimation is the process by which sample data are used to indicate the value of an unknown quantity in a population. Results of estimation can be expressed as a single value, known as a point estimate; or a range of values, r

• 2 Pages
• ###### Analysis of Covariance-Comparing the Slopes-ECO6416
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###### Analysis Of Covariance-Comparing The Slopes-ECO6416

School: UCF

Course: Applied Business Research Tools

Analysis of Covariance: Comparing the Slopes Consider the following two samples of before-and-after independent treatments. Values of Covariate X and a Dependent Variable Y Treatment -I Treatment-II X Y X Y 5 11 2 1 3 9 6 7 1 5 4 3 4 8 7 8 6 12 3 2 We wis

• 1 Page
• ###### Subjective Assessment of Several Estimates Based on Relative Precision-ECO6416
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###### Subjective Assessment Of Several Estimates Based On Relative Precision-ECO6416

School: UCF

Course: Applied Business Research Tools

Subjective Assessment of Several Estimates Based on Relative Precision In many cases, we may wish to compare several estimates of the same parameter. The simplest approach is to measure the closeness among the estimates in an attempt to determine that at

• 2 Pages
• ###### Estimations with Confidence-ECO6416
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###### Estimations With Confidence-ECO6416

School: UCF

Course: Applied Business Research Tools

Estimations with Confidence In practice, a confidence interval is used to express the uncertainty in a quantity being estimated. There is uncertainty because inferences are based on a random sample of finite size from the entire population or process of i

• 2 Pages
• ###### Conditions and the Check-list for Linear Models-ECO6416
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###### Conditions And The Check-list For Linear Models-ECO6416

School: UCF

Course: Applied Business Research Tools

Conditions and the Check-list for Linear Models Almost all models of reality, including regression models, have assumptions that must be verified in order that the model has power to test hypotheses and for it to be able to predict accurately. The followi

• 2 Pages
• ###### Sample Size Determination-ECO6416
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###### Sample Size Determination-ECO6416

School: UCF

Course: Applied Business Research Tools

Sample Size Determination At the planning stage of a statistical investigation, the question of sample size (n) is critical. This is an important question therefore it should not be taken lightly. To take a larger sample than is needed to achieve the desi

• 1 Page
• ###### Ratio Index Numbers-ECO6416
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###### Ratio Index Numbers-ECO6416

School: UCF

Course: Applied Business Research Tools

Ratio Index Numbers The following provides the computational procedures with applications for some Index numbers, including the Ratio Index, and Composite Index numbers. Suppose we are interested in the labor utilization of two manufacturing plants A and

• 2 Pages
• ###### Qualities of a Good Estimator-ECO6416
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###### Qualities Of A Good Estimator-ECO6416

School: UCF

Course: Applied Business Research Tools

Qualities of a Good Estimator A "Good" estimator is the one which provides an estimate with the following qualities: Unbiasedness: An estimate is said to be an unbiased estimate of a given parameter when the expected value of that estimator can be shown t

• 2 Pages
• ###### How to Compare Two Correlation Coefficients-ECO6416
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###### How To Compare Two Correlation Coefficients-ECO6416

School: UCF

Course: Applied Business Research Tools

How to Compare Two Correlation Coefficients? Given that two populations have normal distributions, we wish to test for the following null hypothesis regarding the equality of correlation coefficients: Ho: 1 = 2, based on two observed correlation coefficie

• 1 Page
• ###### Revising the Expected Value and the Variance-ECO6416
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###### Revising The Expected Value And The Variance-ECO6416

School: UCF

Course: Applied Business Research Tools

Revising the Expected Value and the Variance Averaging Variances: What is the mean variance of k variances without regard to differences in their sample sizes? The answer is simply: Average of Variances = [Si2] / k However, what is the variance of all k g

• 1 Page
• ###### Introduction to Estimation-ECO6416
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###### Introduction To Estimation-ECO6416

School: UCF

Course: Applied Business Research Tools

Introduction to Estimation To estimate means to esteem (to give value to). An estimator is any quantity calculated from the sample data which is used to give information about an unknown quantity in the population. For example, the sample mean is an estim

• 1 Page
• ###### Correlation, and Level of Significance-ECO6416
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###### Correlation, And Level Of Significance-ECO6416

School: UCF

Course: Applied Business Research Tools

Correlation, and Level of Significance It is intuitive that with very few data points, a high correlation may not be statistically significant. You may see statements such as, correlation is significant between x and y at the = 0.005 level" and correlati

• 3 Pages
• ###### Residential Properties Appraisal Application-ECO6416
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###### Residential Properties Appraisal Application-ECO6416

School: UCF

Course: Applied Business Research Tools

Residential Properties Appraisal Application Estimating the market value of large numbers of residential properties is of interest to a number of socio-economic stakeholders, such as mortgage and insurance companies, banks and realestate agencies, and inv

• 1 Page
• ###### Bias Reduction Techniques-ECO6416
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###### Bias Reduction Techniques-ECO6416

School: UCF

Course: Applied Business Research Tools

Bias Reduction Techniques: Bootstrapping and Jackknifing Some inferential statistical techniques do not require distributional assumptions about the statistics involved. These modern non-parametric methods use large amounts of computation to explore the e

• 1 Page
• ###### Introduction to Integrating Statistical Concepts-ECO6416
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###### Introduction To Integrating Statistical Concepts-ECO6416

School: UCF

Course: Applied Business Research Tools

Introduction to Integrating Statistical Concepts Statistical thinking for decision-making requires a deeper understanding than merely memorizing each isolated technique. Understanding involves ever expansion of neural network by means of correct connectiv

• 4 Pages
• ###### Numerical Examples for Statistical Tables-ECO6416
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###### Numerical Examples For Statistical Tables-ECO6416

School: UCF

Course: Applied Business Research Tools

Numerical Examples for Statistical Tables The presentation of the statistical tables is not universal. Some statistical textbooks authors' enjoy given tabular values of the right-tail probabilities, while for others left-tail probabilities are preferred.

• 1 Page
• ###### Consumer Price Index-ECO6416
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###### Consumer Price Index-ECO6416

School: UCF

Course: Applied Business Research Tools

Consumer Price Index The simplest and widely used measure of inflation is the Consumer Price Index (CPI). To compute the price index, the cost of the market basket in any period is divided by the cost of the market basket in the base period, and the resul

• 2 Pages
• ###### Applications of and Conditions for Using Statistical Tables-ECO6416
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###### Applications Of And Conditions For Using Statistical Tables-ECO6416

School: UCF

Course: Applied Business Research Tools

Applications of and Conditions for Using Statistical Tables A problem with almost all statistical textbooks is that they not only do not provide information to understand connections between statistical tables. Students often ask: Why T- table values with

• 1 Page
• ###### Index Numbers and Ratios-ECO6416
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###### Index Numbers And Ratios-ECO6416

School: UCF

Course: Applied Business Research Tools

Index Numbers and Ratios When facing a lack of a unit of measure, we often use indicators as surrogates for direct measurement. For example, the height of a column of mercury is a familiar indicator of temperature. No one presumes that the height of mercu

• 2 Pages
• ###### What Is Degrees of Freedom-ECO6416
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###### What Is Degrees Of Freedom-ECO6416

School: UCF

Course: Applied Business Research Tools

What Is "Degrees of Freedom"? Recall that in estimating the population's variance, we used (n-1) rather than n, in the denominator. The factor (n-1) is called "degrees of freedom." Estimation of the Population Variance: Variance in a population is defined

• 2 Pages
• ###### Relationships among Distributions and Unification of Statistical Tables-ECO6416
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###### Relationships Among Distributions And Unification Of Statistical Tables-ECO6416

School: UCF

Course: Applied Business Research Tools

Relationships among Distributions and Unification of Statistical Tables Particular attention must be paid to a first course in statistics. When I first began studying statistics, it bothered me that there were different tables for different tests. It took

• 2 Pages
• ###### An Illustration of CLT-ECO6416
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###### An Illustration Of CLT-ECO6416

School: UCF

Course: Applied Business Research Tools

An Illustration of CLT Sampling Distribution of the Sample Means: Instead of working with individual scores, statisticians often work with means. What happens is that several samples are taken, the mean is computed for each sample, and then the means are

• 4 Pages
• ###### Regression Modeling and Analysis-ECO6416
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###### Regression Modeling And Analysis-ECO6416

School: UCF

Course: Applied Business Research Tools

Regression Modeling and Analysis Many problems in analyzing data involve describing how variables are related. The simplest of all models describing the relationship between two variables is a linear, or straight-line, model. Linear regression is always l

• 2 Pages
• ###### What Is The Central Limit Theorem-ECO6416
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###### What Is The Central Limit Theorem-ECO6416

School: UCF

Course: Applied Business Research Tools

What Is The Central Limit Theorem? The central limit theorem (CLT) is a "limit" that is "central" to statistical practice. For practical purposes, the main idea of the CLT is that the average (center of data) of a sample of observations drawn from some po

• 2 Pages
• ###### Regression Analysis, AVONA, and Chi-square Test-ECO6416
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###### Regression Analysis, AVONA, And Chi-square Test-ECO6416

School: UCF

Course: Applied Business Research Tools

Regression Analysis, ANOVA, and Chi-square Test There are close relationships among linear regression, analysis of variance and the Chi-square test. To illustrate the relationship, consider the following application: Relationship between age and income in

• 3 Pages
• ###### Joint Probability and Statistics-ECO6416
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###### Joint Probability And Statistics-ECO6416

School: UCF

Course: Applied Business Research Tools

Joint Probability and Statistics A joint probability distribution of a group of random variables is the distribution of group of variables as a whole. Applied business statistics deal mostly with the joint probability distribution of two discrete random v

• 1 Page
• ###### Hypothesis Testing with Confidence-ECO6416
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###### Hypothesis Testing With Confidence-ECO6416

School: UCF

Course: Applied Business Research Tools

Hypothesis Testing with Confidence One of the main advantages of constructing a confidence interval (CI) is to provide a degree of confidence for the point estimate for the population parameter. Moreover, one may utilize CI for the test of hypothesis purp

• 2 Pages
• ###### What Is A Sampling Distribution-ECO6416
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###### What Is A Sampling Distribution-ECO6416

School: UCF

Course: Applied Business Research Tools

What Is A Sampling Distribution? A sampling distribution describes probabilities associated with a statistic when a random sample is drawn from the entire population. The sampling distribution is the density (for a continuous statistic, such as an estimat

• 2 Pages
• ###### Hypothesis Testing-Rejecting a Claim-ECO6416
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###### Hypothesis Testing-Rejecting A Claim-ECO6416

School: UCF

Course: Applied Business Research Tools

Hypothesis Testing: Rejecting a Claim To perform a hypothesis test, one must be very specific about the test one wishes to perform. The null hypothesis must be clearly stated, and the data must be collected in a repeatable manner. If there is any subjecti

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• ###### Test for Normality-ECOC6416
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###### Test For Normality-ECOC6416

School: UCF

Course: Applied Business Research Tools

Test for Normality The standard test for normality is the Lilliefors' statistic. A histogram and normal probability plot will also help you distinguish between a systematic departure from normality when it shows up as a curve. Lilliefors' Test for Normali

• 2 Pages
• ###### Pearson, Spearman, and Point-Biserial Correlations-ECO6416
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###### Pearson, Spearman, And Point-Biserial Correlations-ECO6416

School: UCF

Course: Applied Business Research Tools

Pearson, Spearman, and Point-Biserial Correlations There are measures that describe the degree to which two variables are linearly related. For the majority of these measures, the correlation is expressed as a coefficient that ranges from 1.00 to -1.00. A

• 2 Pages
• ###### Poisson Probability Function-ECO6416
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###### Poisson Probability Function-ECO6416

School: UCF

Course: Applied Business Research Tools

Poisson Probability Function Life is good for only two things, discovering mathematics and teaching mathematics. - Simeon Poisson An important class of decision problems under uncertainty is characterized by the small chance of the occurrence of a particu

• 2 Pages
• ###### Normal Density Function-ECO6416
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###### Normal Density Function-ECO6416

School: UCF

Course: Applied Business Research Tools

Normal Density Function In the Descriptive Statistic Section of this Web site, we have been concerned with how empirical scores are distributed and how best to describe their distribution. We have discussed several different measures, but the mean will be

• 3 Pages
• ###### Multinomial Probability Function-ECO6416
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###### Multinomial Probability Function-ECO6416

School: UCF

Course: Applied Business Research Tools

Multinomial Probability Function A multinomial random variable is an extended binomial. However, the difference is that in a multinomial case, there are more than two possible outcomes. There are a fixed number of independent outcomes, with a given probab

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• ###### Chi-square Density Function-ECO6416
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###### Chi-square Density Function-ECO6416

School: UCF

Course: Applied Business Research Tools

Chi-square Density Function The probability density curve of a Chi-square distribution is an asymmetric curve stretching over the positive side of the line and having a long right tail. The form of the curve depends on the value of a parameter known as th

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• ###### Regression Modeling Selection Process-ECO6416
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###### Regression Modeling Selection Process-ECO6416

School: UCF

Course: Applied Business Research Tools

Regression Modeling Selection Process When you have more than one regression equation based on data, to select the best model", you should compare: 1. R-squares: That is, the percentage of variance [in fact, the sum of squares] in Y accounted for by varia

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• ###### Bayesian Statistical Inference-ECO6416
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###### Bayesian Statistical Inference-ECO6416

School: UCF

Course: Applied Business Research Tools

Bayesian Statistical Inference: An Introduction Statistical inference describes the procedures by which we use the observed data to draw conclusions about the population from which the data came or about the process by which the data were generated. Our a

• 2 Pages
• ###### Blending the Classical and the P-value Based Approaches in Test of Hypotheses-ECO6416
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###### Blending The Classical And The P-value Based Approaches In Test Of Hypotheses-ECO6416

School: UCF

Course: Applied Business Research Tools

Blending the Classical and the P-value Based Approaches in Test of Hypotheses A p-value is a measure of how much evidence you have against the null hypothesis. Notice that the null hypothesis is always in = form, and does not contain any forms of inequali

• 2 Pages
• ###### Parametric vs. Non-Parametric vs. Distribution-free Tests-ECO6416
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###### Parametric Vs. Non-Parametric Vs. Distribution-free Tests-ECO6416

School: UCF

Course: Applied Business Research Tools

Parametric vs. Non-Parametric vs. Distribution-free Tests One must use a statistical technique called non-parametric if it satisfies at least one of the following five types of criteria: 1. The data entering the analysis are enumerative; that is, counted

• 2 Pages
• ###### Test for Equality of Several Population Medians-ECO6416
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###### Test For Equality Of Several Population Medians-ECO6416

School: UCF

Course: Applied Business Research Tools

Test for Equality of Several Population Medians Generally, the median provides a better measure of location than the mean when there are some extremely large or small observations; i.e., when the data are skewed to the right or to the left. For this reaso

• 2 Pages
• ###### Goodness-of-Fit Test for Probability Mass Functions-ECO6416
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###### Goodness-of-Fit Test For Probability Mass Functions-ECO6416

School: UCF

Course: Applied Business Research Tools

Goodness-of-Fit Test for Probability Mass Functions There are other tests that might use the Chi-square, such as goodness-of-fit test for discrete random variables. Therefore, Chi-square is a statistical test that measures "goodness-of-fit". In other word

• 2 Pages
• ###### 2 by 2 Crosstable Analysis-ECO6416
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###### 2 By 2 Crosstable Analysis-ECO6416

School: UCF

Course: Applied Business Research Tools

2 by 2 Crosstable Analysis Using Chi-square in a 2x2 table requires the Yates's correction. One first subtracts 0.5 from the absolute differences between observed and expected frequencies for each of the three genotypes before squaring, dividing by the ex

• 2 Pages
• ###### Distribution-free Equality of Two Populations-ECO6416
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###### Distribution-free Equality Of Two Populations-ECO6416

School: UCF

Course: Applied Business Research Tools

Distribution-free Equality of Two Populations For statistical equality of two populations, one may use the Kolmogorov-Smirnov Test (K-S Test) for two populations. The K-S test seeks differences between the two population's distribution function based on t

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• ###### Student T-Density Function-ECO6416
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###### Student T-Density Function-ECO6416

School: UCF

Course: Applied Business Research Tools

Student T-Density Function The t distributions were discovered in 1908 by William Gosset, who was a chemist and a statistician employed by the Guinness brewing company. He considered himself a student still learning statistics, so that is how he signed hi

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• ###### Testing the Variance-ECO6416
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###### Testing The Variance-ECO6416

School: UCF

Course: Applied Business Research Tools

Testing the Variance: Is the Quality that Good? Suppose a population has a normal distribution. The manager is to test a specific claim made about the quality of the population by way of testing its variance 2. Among three possible scenarios, the interest

• 1 Page
• ###### Triangular Density Function-ECO6416
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###### Triangular Density Function-ECO6416

School: UCF

Course: Applied Business Research Tools

Triangular Density Function The triangular distribution shows the number of successes when you know the minimum, maximum, and most likely values. For example, you could describe the number of intakes seen per week when past intake data show the minimum, m

• 2 Pages
• ###### Managing the Producer's or the Consumer's Risk-ECO6416
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###### Managing The Producer's Or The Consumer's Risk-ECO6416

School: UCF

Course: Applied Business Research Tools

Managing the Producer's or the Consumer's Risk The logic behind a statistical test of hypothesis is similar to the following logic. Draw two lines on a paper and determine whether they are of different lengths. You compare them and say, "Well, certainly t

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• ###### Test for Randomness-ECO6416
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###### Test For Randomness-ECO6416

School: UCF

Course: Applied Business Research Tools

Test for Randomness: The Runs' Test A basic condition in almost all inferential statistics is that a set of data constitutes a random sample from a given homogeneous population. The condition of randomness is essential to make sure the sample is truly rep

• 1 Page
• ###### Covariance and Correlation-ECO6416
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###### Covariance And Correlation-ECO6416

School: UCF

Course: Applied Business Research Tools

Covariance and Correlation Suppose that X and Y are two random variables for the outcome of a random experiment. The covariance of X and Y is defined by Cov (X, Y) = Ecfw_[X - E(X)][Y - E(Y)] and, given that the variances are strictly positive, the correl

• 2 Pages
• ###### What Is a Standard Error-ECO6416
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###### What Is A Standard Error-ECO6416

School: UCF

Course: Applied Business Research Tools

What Is a Standard Error? For statistical inference, namely statistical testing and estimation, one needs to estimate the population's parameter(s). Estimation involves the determination, with a possible error due to sampling, of the unknown value of a po

• 1 Page
• ###### Homogeneous Population-ECO6416
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###### Homogeneous Population-ECO6416

School: UCF

Course: Applied Business Research Tools

Homogeneous Population A homogeneous population is a statistical population which has a unique mode. Notice that, e.g., a Uniform distribution has uncountable number of modes having equal density value; therefore it is considered as a homogeneous populati

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• ###### Regression Analysis, AVONA, T-test, and Coefficient of Determination-ECO6416
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###### Regression Analysis, AVONA, T-test, And Coefficient Of Determination-ECO6416

School: UCF

Course: Applied Business Research Tools

Regression Analysis, ANOVA, T-test, and Coefficient of Determination There are very direct relationships among linear regression, analysis of variance, t-test and the coefficient of determination. The following small data set is for illustrating the conne

• 1 Page
• ###### Measure of Surprise for Outlier Detection-ECO6416
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###### Measure Of Surprise For Outlier Detection-ECO6416

School: UCF

Course: Applied Business Research Tools

Measure of Surprise for Outlier Detection Robust statistical techniques are needed to cope with any undetected outliers; otherwise they are more likely to invalidate the conditions underlying statistical techniques, and they may seriously distort estimate

• 6 Pages
• ###### Simple Linear Regression-Coumputional Aspects-ECO6416
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###### Simple Linear Regression-Coumputional Aspects-ECO6416

School: UCF

Course: Applied Business Research Tools

Simple Linear Regression: Computational Aspects The regression analysis has three goals: predicting, modeling, and characterization. What would be the logical order in which to tackle these three goals such that one task leads to and /or and justifies the

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• ###### Uniform Density Function-ECO6416
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###### Uniform Density Function-ECO6416

School: UCF

Course: Applied Business Research Tools

Uniform Density Function The uniform density function gives the probability that observation will occur within a particular interval [a, b] when probability of occurrence within that interval is directly proportional to interval length. Its mean and varia

• 1 Page
• ###### Correlation Coefficients Testing-ECO6416
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###### Correlation Coefficients Testing-ECO6416

School: UCF

Course: Applied Business Research Tools

Correlation Coefficients Testing The Fisher's Z-transformation is a useful tool in the circumstances in which two or more independent correlation coefficients are to be compared simultaneously. To perform such a test one may evaluate the Chi-square statis

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• ###### Necessary Conditions for Statistical Decision Making-ECO6416
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###### Necessary Conditions For Statistical Decision Making-ECO6416

School: UCF

Course: Applied Business Research Tools

Necessary Conditions for Statistical Decision Making Introduction to Inferential Data Analysis Necessary Conditions: Do not just learn formulas and number-crunching. Learn about the conditions under which statistical testing procedures apply. The followin

• 2 Pages
• ###### Testing the Equality of Multi-Variances-ECO6416
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###### Testing The Equality Of Multi-Variances-ECO6416

School: UCF

Course: Applied Business Research Tools

Testing the Equality of Multi-Variances The equality of variances across populations is called homogeneity of variances or homoscedasticity. Some statistical tests, such as testing equality of the means by the t-test and ANOVA, assume that the data come f

• 2 Pages
• ###### Seasonal Index and Deseasonalizing Data-ECO6416
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###### Seasonal Index And Deseasonalizing Data-ECO6416

School: UCF

Course: Applied Business Research Tools

Seasonal Index and Deseasonalizing Data Seasonal index represents the extent of seasonal influence for a particular segment of the year. The calculation involves a comparison of the expected values of that period to the grand mean. We need to get an estim

• 13 Pages
• ###### 3describing data-STUDENTS REVIEW THIS
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###### 3describing Data-STUDENTS REVIEW THIS

School: UCF

Course: Applied Business Research Tools

Statistical Statistical Methods for Business DecisionDecision-Making Describing Data Week #1 Page 1 Describing Data This section is a brief review of some simple concepts REVIEW on your own REVIEW on your own Page 2 In-Class Exercise Exercise 1 See the ha

• 12 Pages
• ###### Next Multiple Regression
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###### Next Multiple Regression

School: UCF

Course: Applied Business Research Tools

Example Does school quality affect housing prices? Other things equal, are houses worth more when located in zones for better schools? Economic framework: hedonic model for prices of goods that are bundles of characteristics. Price of house viewed as a f

• 2 Pages
###### Regression Analysi1

School: UCF

Course: Applied Business Research Tools

Sca t t e r pl ot of Av e r a ge e x a mgr a de v sN umbe r of hour sst udi e dpe r w e e 120 100 A v e r a ge e xa mgr a de 80 60 40 20 0 0 10 20 30 40 50 60 Numbe r of hour sst udie dpe r w e e 70 80 Regression Analysis: Average exam gra versus Number o

• 15 Pages
• ###### Topic 1-Research Design
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###### Topic 1-Research Design

School: UCF

Course: Applied Business Research Tools

Topic #1 Research Design Applications Applications in Business and Economics Data Data Types of Data Data Data Sources Sampling Sampling Techniques Steps Steps of Research Slide 1 Form Your Team By End of 2nd Class! Slide 2 Applications in Business and Ec

• 31 Pages
• ###### Topic 2-Basic Statistics-Part 1
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###### Topic 2-Basic Statistics-Part 1

School: UCF

Course: Applied Business Research Tools

Topic #2 Basic Statistics Part 1 REVIEW REVIEW ON OWN Summarizing Qualitative Data Summarizing Quantitative Data Measures of Location and Variability/Dispersion Measures Measures of Association Between Two Variables Random Random Variables Discrete Discre

• 20 Pages
• ###### Topic 3-Statistical Inference
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###### Topic 3-Statistical Inference

School: UCF

Course: Applied Business Research Tools

Topic #3 Statistical Inference Point Estimation Sampling Distribution of x o Sampling Distribution of p Not on Exam 1 o H pothesis Testing Hy o Interval Estimation Not on Exam 1 o o Form Your Team By End of 2nd Class! Slide 1 Slide 2 Statistical Inference

• 16 Pages
• ###### Topic 4 - Intro to Multiple Regression Student version
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###### Topic 4 - Intro To Multiple Regression Student Version

School: UCF

Course: Applied Business Research Tools

Outline Applied Business Tools ECO ECO 6416 Introduction to Multiple Regression 1. 1. 2. 3. 4. 5. 6. 7. 7. Omitted variable bias Causality and regression analysis Multiple regression and OLS Measures of fit Sampling distribution of the OLS estimator Hypot

• 16 Pages
###### Try To Be Normal, Z

School: UCF

Course: Applied Business Research Tools

Topic #2 Basic Statistics Part 2 Measures of Relative Location Z-scores Continuous Probability Distributions o o Measures of Relative Location o o z-Scores The Empirical Rule NOTE: gives you an idea/sense of how values and probabilities are spread over th

• 12 Pages
• ###### Study Questions for Exam 1-ECO 6416
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###### Study Questions For Exam 1-ECO 6416

School: UCF

Course: Applied Business Research Tools

Study Questions for Exam 1: 1.4 Which of the following is an example of time series data? a. job satisfaction of 100 employees at a factory b. the five-year growth rate in sales of 30 food-processing firms c. 1990 revenue for each fast food restaurant in

• 9 Pages
###### ECO 6416-Exam 1 Review

School: UCF

Course: Applied Business Research Tools

ECO 6416 EXAM #1 Review Multiple Choice Place answers on Scantron form. Write in this booklet instead of scratch paper. Put name at top. Answer the next nine questions from the following case: By fitting membership with alumni total for n = 48 months, the

• 8 Pages
• ###### ECO6416- Transcript of live chat
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###### ECO6416- Transcript Of Live Chat

School: UCF

Course: Applied Business Research Tools

ECO-6416 Exam 1 Live Chat Transcripts (use with Exam 1 Review guide) 9:15 PM: Dr. Soskin: Welcome all. I'm sitting here with my seafood salad and arugula sandwich on rye and a glass of iced tea (not sweet). So ready for questions. 9:16 PM: Avila Oriana: I

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• ###### Why Statistical Sampling-ECO6416
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###### Why Statistical Sampling-ECO6416

School: UCF

Course: Applied Business Research Tools

Why Statistical Sampling? Sampling is the selection of part of an aggregate or totality known as population, on the basis of which a decision concerning the population is made. The following are the advantages and/or necessities for sampling in statistica

• 3 Pages
• ###### What Is so Important About the Normal Distributions-ECO6416
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###### What Is So Important About The Normal Distributions-ECO6416

School: UCF

Course: Applied Business Research Tools

What Is so Important About the Normal Distributions? The term normal" possibly arose because of the various attempts made to establish this distribution as the underlying rule governing all continuous variables. These attempts were based on false premises

• 3 Pages
• ###### Multiple regression exercise
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###### Multiple Regression Exercise

School: UCF

Course: Applied Business Research Tools

Thisexerciseconcernsregressionsusedtomodelhourlyearningsofworkersasafunctionofcharacteristicsofthe workers.Theunitofobservationistheworker,andthedataincludeobservationson61,395workersfromtheMarch 2005CurrentPopulationSurvey. Thevariablesare: Ahe = Average

• 18 Pages
• ###### Intro%20to%20Multiple%20Regression%20MD%20verstion
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###### Intro%20to%20Multiple%20Regression%20MD%20verstion

School: UCF

Course: Applied Business Research Tools

Outline Applied Business Tools ECO ECO 6416 Introduction to Multiple Regression 1. 1. 2. 3. 4. 5. 6. 7. 7. Omitted variable bias Causality and regression analysis Multiple regression and OLS Measures of fit Sampling distribution of the OLS estimator Hypot

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###### HW Exer-regr-2 Var

School: UCF

Course: Applied Business Research Tools

Applied Business Research Tools Two-Variable Regression Exercise You are planning to buy a 1000 sq. foot house in one of two subdivisions. The regression results from these two subdivisions are presented below. PRICE is the sales price of a house and lot

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• ###### Binom-Poisson Exercises - Students
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###### Binom-Poisson Exercises - Students

School: UCF

Course: Applied Business Research Tools

ECO 6416 - Dr. Dickie - Exercise - Binomial and Poisson Distributions Problems 1. Twenty-five percent of the employees of a large company are members of minorities. A random sample of 7 employees is selected. a. What is the probability that the sample con

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• ###### Binom-Poisson Exercises - With Key
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###### Binom-Poisson Exercises - With Key

School: UCF

Course: Applied Business Research Tools

ECO 6416 - Dr. Dickie - Exercise - Binomial and Poisson Distributions Problems 1. Twenty-five percent of the employees of a large company are members of minorities. A random sample of 7 employees is selected. a. What is the probability that the sample con

• 18 Pages
• ###### Bivariate regression Student version
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###### Bivariate Regression Student Version

School: UCF

Course: Applied Business Research Tools

ECO 6416 Bivariate Regression Statistical model to study relationship between dependent variable and one or more independent variables. Flexible modeling approach Widely used statistical method in business & economics Can do anything that analysis of vari

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• ###### Cigarette demand in-class exercise
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###### Cigarette Demand In-class Exercise

School: UCF

Course: Applied Business Research Tools

Thisexerciseconcernsregressionsusedtoestimatethedemandforcigarettes.Theunitofobservationisthestate.Variablesare observedinthe48continuousUSstatesfortwoyears,1985and1995.Thevariablesare: PACKPC = Annual per-capita cigarette consumption by state and year, i

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• ###### Cigarette demand log form exercise
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###### Cigarette Demand Log Form Exercise

School: UCF

Course: Applied Business Research Tools

Thisexerciseconcernsregressionsusedtoestimatethedemandforcigarettes.Theunitofobservationisthestateinagivenyear. Variablesareobservedinthe48continuousUSstatesfortwoyears,1985and1995.Theregressionmodelis ln Qit = 0 + 1 ln Pit + 2 ln I it + uit . Inthisequat

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• ###### Class 1 In-class Exercise 1
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###### Class 1 In-class Exercise 1

School: UCF

Course: Applied Business Research Tools

ECO 6416 - Dr. Dickie In-Class Exercise Class #1 Suppose youve collected data on 40 southern universities and their athletic departments. Some of the data that youve collected are defined below. MARGIN - net annual revenue or loss (gross revenue - expense

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###### Consumer Complaints

School: UCF

Course: Applied Business Research Tools

Statistical Methods for Business Decision-Making Describing Data Exercise #1 (Consumer Complaints) Purpose: illustrate how the mean and standard deviation can answer important business questions. Instructions: Do this exercise in groups of two (or as home

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• ###### Correcting Heteroskedasticity
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###### Correcting Heteroskedasticity

School: UCF

Course: Applied Business Research Tools

Correcting Heteroskedasticity Step 1: Using the five original independent variables, we estimate a regression model. Step 2: Computing the residual RES(in MINITAB, create a new variable by using feature RESIDUAL in Storage when running regression model) a

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###### Estimation With Key

School: UCF

Course: Applied Business Research Tools

ECO 6416 - Dr. Dickie - Exercise Point & Interval Estimation, Hypothesis Testing Firstdeterminewhetheryouneedtoconstructanintervalestimateortoconductahypothesistest.The formulaforanintervalestimatoris: Point estimate (critical value) (s.e. of point est

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• ###### exer-write HO &amp; HA-KEY
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###### Exer-write HO & HA-KEY

School: UCF

Course: Applied Business Research Tools

Purpose: Practice writing hypotheses and using p-values to make decisions 1. 2. 3. You have been assigned to learn whether or not lung cancer rates differ between smokers and non-smokers. After you conduct your testing, your test statistics pvalue is 0.00

• 12 Pages
###### Hetero And Serial Corr

School: UCF

Course: Applied Business Research Tools

Heteroskedasticity & Serial Correlation Heteroskedasticity * * * * * * * * * * * * * * * * * * * * * * * * * * * * * Slide # 1 Slide # 2 Heteroskedasticity & Serial Correlation are Sneaky Can mess up t-statistics so badly that you might reach wrong concl

• 2 Pages
###### HW Exer-regr-2 Var KEY

School: UCF

Course: Applied Business Research Tools

Applied Business Research Tools Two-Variable Regression Exercise You are planning to buy a 1000 sq. foot house in one of two subdivisions. The regression results from these two subdivisions are presented below. PRICE is the sales price of a house and lot

• 2 Pages
• ###### Statistical Summaries-ECO6416
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###### Statistical Summaries-ECO6416

School: UCF

Course: Applied Business Research Tools

Statistical Summaries Representative of a Sample: Measures of Central Tendency Summaries How do you describe the average" or typical" piece of information in a set of data? Different procedures are used to summarize the most representative information dep

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• ###### Specialized Averages-ECO6416
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###### Specialized Averages-ECO6416

School: UCF

Course: Applied Business Research Tools

Specialized Averages: The Geometric & Harmonic Means The Geometric Mean: The geometric mean (G) of n non-negative numerical values is the nth root of the product of the n values. If some values are very large in magnitude and others are small, then the ge

• 3 Pages
• ###### Shape of a Distribution Function-ECO6416
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###### Shape Of A Distribution Function-ECO6416

School: UCF

Course: Applied Business Research Tools

Shape of a Distribution Function: The Skewness-Kurtosis Chart The pair of statistical measures, skewness and kurtosis, are measuring tools, which is used in selecting a distribution(s) to fit your data. To make an inference with respect to the population

• 2 Pages
• ###### Two Independent Populations-ECO6416
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###### Two Independent Populations-ECO6416

School: UCF

Course: Applied Business Research Tools

Two Independent Populations If an estimate is an unbiased such as sample mean, then it is a good idea to pool the estimates to get a single estimate from several relatively small samples. The pooled estimate is a good estimate when compared with each indi

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• ###### Non-parametic Multiple Comparison Procedures-ECO6414
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###### Non-parametic Multiple Comparison Procedures-ECO6414

School: UCF

Course: Applied Business Research Tools

Non-parametric Multiple Comparison Procedures Duncan's multiple-range test: This is one of the many multiple comparison procedures. It is based on the standardized range statistic by comparing all pairs of means while controlling the overall Type I error

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• ###### F-Density Function-ECO6416
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###### F-Density Function-ECO6416

School: UCF

Course: Applied Business Research Tools

F-Density Function The F-distribution is the distribution of the ratio of two independent sampling (of size of n1, and n2, respectively) estimates of variance from standard normal distributions. It is also formed by the ratio of two independent chi-square

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• ###### Introduction to Tests for Statistical Equality of Two or More Populations-ECO6416
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###### Introduction To Tests For Statistical Equality Of Two Or More Populations-ECO6416

School: UCF

Course: Applied Business Research Tools

Introduction to Tests for Statistical Equality of Two or More Populations: Two random variables X and Y having distribution FX(x) and FY(y) respectively, are said to be equivalent, or equal in rule, or equal in distribution, if and only if they have the s

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• ###### Exponential Density Function-ECO6416
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###### Exponential Density Function-ECO6416

School: UCF

Course: Applied Business Research Tools

Exponential Density Function An important class of decision problems under uncertainty concerns the random durations between events. For example, the the length of time between breakdowns of a machine not exceeding a certain time interval, such as the cop

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• ###### Equality of Two Normal Populations-ECO6416
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###### Equality Of Two Normal Populations-ECO6416

School: UCF

Course: Applied Business Research Tools

Equality of Two Normal Populations: The normal or Gaussian distribution is a continuous symmetric distribution that follows the familiar bell-shaped curve. One of its nice features is that, the mean and variance uniquely and independently determines the d

• 2 Pages
• ###### Hypergeometric Distribution-ECO6416
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###### Hypergeometric Distribution-ECO6416

School: UCF

Course: Applied Business Research Tools

Hypergeometric Distribution The Hypergeometric (x; n, M, N) Distribution applies when we are sampling n items without replacement from a population of M successes and N-M failures. The hypergeometric distribution arises when a random selection (without re

• 3 Pages
• ###### An Illustrative Numerical Example for ANOVA-ECO6416
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###### An Illustrative Numerical Example For ANOVA-ECO6416

School: UCF

Course: Applied Business Research Tools

An Illustrative Numerical Example for ANOVA Consider the following (small integers, indeed for illustration while saving space) random samples from three different populations. With the null hypothesis: H0: 1 = 2 = 3, and the alternative: Ha: at least two

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