BUSMGT 2320 Lecture 4: 4. Lecture 4 - One Sample T; Paired Samples T

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t
Test statistic
t , t , t
Critical Value (Point)
Matched (paired) samples
Notation:
Estimate with s, giving
No longer Standard Normal Z, no longer Z-scores
Assuming is Normally distributed, result is now a t random variable
Still measures # of standard deviations from mean
Substituting s for : Student's t
In the one-sample case
df = # of observation used to calculate sum of squared deviations - $ of
mathematical restrictions
There is a family of t-curves
Has one parameter: degrees of freedom: df, DF
The t-Distribution
Same symmetric mound shape
Same center,
Both asymptotic
t-curves have fatter tails
t-curves become taller and skinnier as df increase
Observations:
Comparing t to Z
m = t*s
Symmetric case:
Reasonable Sampling Error - Unknown
PROBLEM: average income of households within 25 miles must exceed
$50,000 for success
SRS of 64 and found average annual income of $50,725 with standard
deviation of $4200
Does this indicate > $50,000
PLAN
Hypothesis:
SRS
s = $4200
n = 64; income is usually skewed, but CLT probably applies, given n > 2(30)
n = <.1N SE( ) = no adjustment
The Unlimited Avenue Case
Lecture 4
-
One sample t; Paired Samples t
Thursday, February 2, 2017 06:59 PM
Unit 1 Page 1
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