ECMT1010 Lecture 11: Week 11 Lecture stats

• School: University of Sydney
• Department: Agriculture (Economics)
• Course: ECMT1010
• Professor: All

Document Summary

Ho p or 5 hi s ps o 5. 2430 o 5 12 gy o and 243o l l o 5 samplestatistic15 1 0 0. 549. 2 2. 326l485 2 sowerejectho s s under 55lo 4 85abovethe whllusionsateidenticalregardlessofthe the meanof 0. Ii n miz itwiththesamplestandarddeviation is sincewedon"tknow0 populationid weapproximate testing methodas if n i 30 then. Se in replacingonwith s means i nolongerhasanormaldistribution has a t distribution distribution replacing onwithas inthe seformulachangesthedistributionofefwmnormalto similarto nco 1 butwithfattertails characterisedby degreesoffreedom based on samplesize1h if df increases the t distribution becomesmoresimilartonco1. If n 30 the standardised teststatisticfor a meanusing"s followsa t distribution ith in l df. 2 s e becomes statistic it x s e since we replace o with is wemustuse tdistribution insteadofthestandardnormal. Ho ho h i fl tmo astandardisedteststatistic statistic hullparameter teststathasa tdistwith a df n l ortheunderlyingpop is normal t. In tn l in a tdist with h idf. 4adf. o. ae v steps tofollow if n i 30.