QMB Final Exam
Steps to find a CI - Answer-1. Determine if Quant or prop
2. determine if z or test test
3. use the appropriate formula :
Quant=>x±z*o/√n or x±t*s/√n
Prop=>p±z*√(p(1-p)/n
4. to find z-score use (1-CI%)/2 +CI% in the norm.inv function
5. Do the math
Steps to determine a sample distribution - Answer-1. Determine if quant or prop
2. Determine if they want area under curve or z-score
3. Determine if SE is given if not SE=o/√n
, 4. determine if the sample>5% of the population if so use the FCF which is √(N-n)/(N-1)
5. if area under curve use =norm.dist if they want a z-score use =norm.inv
Steps for a single mean tests - Answer-1. Determine your null and alternative hypo
2.Determine if quant or prop
3. If Quant Determine if z or t test
4a. If quant find either the z-test stat->(x-Uo)/(o/√n) or t-test stat ->(x-Uo)/(s/√n)
4b. if prop find the z-test stat ->(p-Po)√(Po(1-Po)/n
5. Determine if they want a p-value or a rejection region
6. P-Value =norm.dist(test stat,0,1,1) *if it is a two tailed test multiple your p-value by two
7. Rejection region =norm.dist(test stat,0,1)
How to continuous random variable distributions - Answer-1. Determine if its uniform or normally
distributed
2. If it is uniform use the formula determine the expect value= 1/(b-a), mean =(a+b)/2, the variance
=(upper-lower)^2/12, or the specific prob =(upper-lower)/(b-a)
Steps to find a CI - Answer-1. Determine if Quant or prop
2. determine if z or test test
3. use the appropriate formula :
Quant=>x±z*o/√n or x±t*s/√n
Prop=>p±z*√(p(1-p)/n
4. to find z-score use (1-CI%)/2 +CI% in the norm.inv function
5. Do the math
Steps to determine a sample distribution - Answer-1. Determine if quant or prop
2. Determine if they want area under curve or z-score
3. Determine if SE is given if not SE=o/√n
, 4. determine if the sample>5% of the population if so use the FCF which is √(N-n)/(N-1)
5. if area under curve use =norm.dist if they want a z-score use =norm.inv
Steps for a single mean tests - Answer-1. Determine your null and alternative hypo
2.Determine if quant or prop
3. If Quant Determine if z or t test
4a. If quant find either the z-test stat->(x-Uo)/(o/√n) or t-test stat ->(x-Uo)/(s/√n)
4b. if prop find the z-test stat ->(p-Po)√(Po(1-Po)/n
5. Determine if they want a p-value or a rejection region
6. P-Value =norm.dist(test stat,0,1,1) *if it is a two tailed test multiple your p-value by two
7. Rejection region =norm.dist(test stat,0,1)
How to continuous random variable distributions - Answer-1. Determine if its uniform or normally
distributed
2. If it is uniform use the formula determine the expect value= 1/(b-a), mean =(a+b)/2, the variance
=(upper-lower)^2/12, or the specific prob =(upper-lower)/(b-a)
