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BUAL 2650 FINAL QUESTIONS AND CORRECT ANSWERS

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BUAL 2650 FINAL QUESTIONS AND CORRECT ANSWERS

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BUAL 2650
Course
BUAL 2650

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Degrees of Freedom


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the actual amount of variability in the sampling distribution of 't' depends
on the sample size 'n'.




The standard deviation of the sample distribution decreases as the sample size


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increases




Quantitative factors

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measured on a numerical scale




Parameter


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Numerical description measure of a population (almost always unknown)




Completely randomized design


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a design in which the experimental units are randomly assigned to the k
treatments or in which independent random samples of experimental units
are selected from each treatment
(- Experimental units (subjects) are assigned randomly to treatments
- Subjects are assumed homogeneous
- One factor or independent variable --Two or more treatment levels or
classifications
-Analyzed by one-way Analysis of Variance (ANOVA)).




What's the general guideline for the normal distribution to be justified?


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, n is greater than or equal to 30




Confidence Level


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the confidence coefficient expressed as a percentage.
Example: if our confidence level is 95%, then in the long run, 95% of our
confidence intervals will contain μ and 5% will not




Single-factor experiments


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the treatments were levels of a single factor, with the sampling of
experimental units performed using either a completely randomized or a
randomized block deisng.




Test Statistic


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a sample statistic, computed from information provided in the sample, that
the researcher uses to decide between the null and alternative hypotheses




Conditions Required for a Valid Large-Sample Hypothesis Test for µ

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1. A random sample is selected from the target population.
2. The sample size n is large (i.e., n ≥ 30). (Due to the Central Limit Theorem,
this condition guarantees that the test statistic will be approximately normal
regardless of the shape of the underlying probability distribution of the
population.)




p-value < alpha:


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Reject the null




Large sample


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sample being of sufficiently large size that we can apply the CLT and the
normal (z) statistic to determine the form of the sampling distribution of x-
bar.
note: the large-sample interval estimator requires knowing the value of the
population standard deviation, σ. (in most business cases however, σ is
unknown)




If the mean of the sampling distribution is not equal to the parameter, the statistic is
said to be a ____ _____ of the parameter


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