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Q1: Be able to conduct a one-tailed hypothesis test for the mean at the .025 significance level. State the null and alternative. State the critical value. Draw a diagram. Provide the computation of the test statistics. State your decision in terms of the null hypothesis.
- Q2: Be able to conduct a two-sample test of hypothesis (for the means). What is the critical value at .05?
- Q3: Be able to calculate a two-tailed hypothesis test (for the means). What is the critical t-value at the 1% level of significance? What is the decision at the 1% level?
- Q4: Be able to conduct a two-tailed hypothesis test, assuming equal population variances at the 5% level.
- Q5: Given an Excel regression output, be able to answer some questions. Why would a coefficient for an independent variable be positive or negative? Which variable is the most significant in the model? Least significant? Given the 5% level of significance, would you drop any variables in the model? Be able to predict Y.
Q6 & Q7: Understand autocorrelation and multicollinearlity in reference to the following questions. What type of regression is it common in? When is it likely to occur? What is its negative impact? How do we see if it exists? If found, how is it eliminated?
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