Sample Statistic, p-value, Confidence interval - Assignment Example

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A sample statistic is calculated numerical value that characterizes some aspect of sample set of data, often meant to estimate the real value of the corresponding parameter in an underlying population…

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Sample Statistic, p-value, Confidence interval

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Subject: Statistics
Type: Assignment
Level: High School
Pages: 2 (500 words)
Downloads: 3
Author: ernserlilly

Extract of sample "Sample Statistic, p-value, Confidence interval"

1) What is the null hypothesis (H0) tested? H0: π ≤ 0.5 2) What is the alternative hypothesis (H1)? H1: π > 0.5 3) Sample statistic: a. What isthe meaning of the sample statistic? A sample statistic is calculated numerical value that characterizes some aspect of sample set of data, often meant to estimate the real value of the corresponding parameter in an underlying population. What is its value? 0.05 4) Test statistic: a. What is the meaning of the test statistic? The test stat is the distance of the sample proportion from the population proportion in standard errors of the distribution of the test statistic b.

What is its value? 0.8944 5) Critical values: a. What is the meaning of critical value? Critical value(s) is a factor used to compute the margin of error. Critical value(s) of the test statistic bounds the rejection region(s) of probability alpha = the risk we are willing to take of rejecting H0 when H0 is true b. What is (are) the critical value(s)? Critical lower value is 1.6449 c. Compare the test statistic to the critical value(s). Is there sufficient evidence to conclude the test subject is an expert?

The test statistic does not exceed the critical values. Hence, there is no sufficient evidence to conclude that the test subject is an expert. 6) p-value: a. What is the meaning of the p-value? P-value is a probability that measures the strength of evidence in support of a null hypothesis. b. What is its value to 4 decimal places? 0.8144 c. Using the rule for rejection of H0 in terms of p-value and alpha (When the p-value is low H0 must go), is there sufficient evidence to conclude the test subject is an expert?

The p-value of H1: π > 0.5 is more than the alpha. Hence, it indicates the test subject is not an expert. 7) Confidence interval: a. What is the meaning of the confidence interval (CI) for the population parameter? A confidence interval is an interval estimate combined with a probability statement used to express the degree of uncertainty associated with a samples statistic. b. What are the values of the lower and upper confidence limits? The lower confidence limit is 0.3853 and upper confidence limit is 0.8147 c. Is the parameter value tested so far from the sample statistic (center of the CI) that it is not contained in the CI?

The parameter value tested is not contained in the Confidence interval d. Is there sufficient evidence to conclude the test subject is an expert? There is no sufficient evidence to conclude that the test subject is an expert. Fall 2015

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