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L1 11 Hypothesis Testing > e distinguish between a statistical result and an economically meaningful result; > Flashcards

e distinguish between a statistical result and an economically meaningful result; Flashcards

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L1 11 Hypothesis Testing (13 decks)

A,B,C,D,E,F,G,H,I,J,K

a define a hypothesis, describe the steps of hypothesis testing, and describe and interpret the choice of the null and alternative hypotheses;

b distinguish between one-tailed and two-tailed tests of hypotheses;

c explain a test statistic, Type I and Type II errors, a significance level, and how significance levels are used in hypothesis testing;

d explain a decision rule, the power of a test, and the relation between confidence intervals and hypothesis tests;

e distinguish between a statistical result and an economically meaningful result;

f explain and interpret the p-value as it relates to hypothesis testing;

g identify the appropriate test statistic and interpret the results for a hypothesis test concerning the population mean of both large and small samples when the population is normally or approximately distributed and the variance is 1) known or 2) unknown;

h identify the appropriate test statistic and interpret the results for a hypothesis test concerning the equality of the population means of two at least approximately normally distributed populations, based on independent random samples with 1) equal or 2) unequal assumed variances;

i identify the appropriate test statistic and interpret the results for a hypothesis test concerning the mean difference of two normally distributed populations;

j identify the appropriate test statistic and interpret the results for a hypothesis test concerning 1) the variance of a normally distributed population, and 2) the equality of the variances of two normally distributed populations based on two independent random samples;

k distinguish between parametric and nonparametric tests and describe situations in which the use of nonparametric tests may be appropriate.

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