MKT 500 Chapter Notes - Chapter 11: Confidence Interval, Statistical Hypothesis Testing, Statistical Parameter

• School: Ryerson University
• Department: Marketing
• Course: MKT 500
• Professor: Helene Moore

Document Summary

8 chapter 11 population estimates and hypothesis testing. Generalizing a sample"s findings: estimating the population value. Parameter proper name for population fact. How to estimate a population average (metric data: calculating a confidence interval for an average. Hypothesis testing statistical procedure used to support or not support the hypothesis based on sample information. Intuitive hypothesis testing (as opposed to statistical hypothesis testing) when someone uses something he or she has observed to see if it agreed with or goes against the belief about that topic. Testing a hypothesis about a percentage: null hypothesis formal statement that there is no difference between the hypothesized population value and the p value found in our sample. Greater than or less than hypothesis: critical z value is adjusted downward to 1. 64 and 2. 33 for 95% and 99% levels of confidence, respectively.