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t Statistic, Z score Hypothesis Test, estimated standard error (computed…
t Statistic
Hypothesis test:
- Sample mean (M) is expected to approximate population mean (𝞵)
- Standard error provides a measure of how much difference between sample mean (M) and population mean (𝞵)
Standard Error = 𝞼/√n
- To test hypothesis, compare obtained sample mean (M) with hypothesized popued population mean (𝞵) by computing a z score stat
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Confidence Interval: Range of values centered around a sample stat. It shoudl be near the corresponding population parameter.
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Z score Hypothesis Test
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Problems
z score formula requires more information than is usually available, for example Standard Deviation for the population
Solution: when variance or standard deviation for the population are not known, we use corresponding sample value in its place.
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