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UNIT THREE
Hypothesis testing; Correlation coefficient; Online data sources;
Comparing two population proportions; Chi-square test of independence
Hypothesis Testing
A hypothesis is a belief or claim or conjecture or possibility as to the true state of

Tips for Using Excel on a Mac in ECON 2300 and ECON 3300
StatPlus Tool for Excel on a Mac
StatPlus is a free add-in you should download for your Mac computer. It contains all
of the Data Analysis tools you will need for ECON 2300, ECON 3300 and other
busi

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Using Microsoft Excel 2010 for Selected Tasks
Throughout this document, a set of data refers to observations of just one variable.
Whenever an instruction refers to entering information in a dialog box, it is assumed that you
will click in the box andif

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Unit One Packet
Notes on descriptive statistics and discrete probability distributions
Non-text homework exercises 1-3 referenced in syllabus
Review problems and formula sheet for first test
Introduction
Applied statistics is concerned with obtaining, s

Review Problems for Test #1
Note: To thoroughly review for the test, you will want to do additional study as needed
to meet all of learning objectives 1-6 and 22(a)-(f).
Problems below with no reference to Excel are expected to be worked by hand.
1. The p

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Formula Sheet for Test #1
Variance:
and
n
s2
(x
i
where xi denotes the ith observation in the set
N
x) 2
(x
2 i 1
i 1
n 1
i
)2
N
To determine the pth percentile: Calculate i = p% of the number of observations. If i is not a
whole number, round it

Tables and Formula List for ECON 2300 Final Exam
1.
N
= xi / N
i=1
n
= xi / n
i=1
3.
N
= (xi- 2 / N
i=1
4.
n
s = (xi - )2/(n-1)
i=1
5.
z = (x - ) / s
6.
z = (x -
7.
CV = (Standard Deviation / Mean)*100%
8.
E(x) = xi * p(xi)
9.
Var(x) = xi E(x)2 * p(xi)

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The following table addresses determining a confidence interval for the difference between 1
(the mean of one population) and 2 (the mean of a second population); the approach to use is
contingent upon the situation.
Situation
12,22 are known
the popula

Regarding Final Exam
33 multiple-choice questions
75% small problems or parts of large problems; 25% definitions and concepts
Comprehensive (but will not address Excel or online data sources)
Recommended study strategy:
Go over practice problems in pack

Answers to Text HWK Exercises (Ch. 9-11)
Chapter 9
Note: For each hypothesis testing scenario encountered: (1) automatically use the four-step p-value
approach to hypothesis testing regardless of the directions in the problem; and (2) If a significance le

Answers to Text HWK Exercises (Ch. 1-3, 5-8)
Chapter 1
note: qualitative data is the same as categorical data
10. (a) quantitative; ratio (b) qualitative; nominal (c) qualitative; ordinal
(d) quantitative; ratio (e) qualitative; nominal
11. (a) quantitati