MKT 3340 Study Guide - Midterm Guide: Statistical Parameter, Sampling Distribution, Null Hypothesis

• School: UT-Dallas
• Department: Marketing Management
• Course: MKT 3340
• Professor: Prasad Ashutosh

Document Summary

Lecture 12: ch 12, ch 13 in textbook. Mean (mu) = sumx/n: population variance. Statistic: describe sample and is an estimate eof the population parameter, sample proportion. Mean (m) = sum(x)/n: sample variance. Null hypothesis: = the option which nothing will happen after, stay the same: exm. Reject h0 at (1 sigma)% confidence if |m mu| > zsigmasm: sigma = 1 confidence level, confidence level = acceptance, allowance, exm. 1 - . 95 confidence = . 05: 1. 96 on z table. If h0 true probability of getting a sample with sample mean (m) can be found. If this probably is really small, we should conclude that h0 was false and reject it. The mean of the sampling distribution will be mu. Standard deviation of sampling distribution (called standard error) is s m = sigma/sqr(n) Though population had a uniform distribution, the sampling distribution looks more normal. Reject h0 if |m mu| > tsigma, n-1 * sm.