STOR 113: Decision Models for Economics

Discover the process of analyzing variance in midterm grades with a Chi-Square test. Understand the significance of high variance and its implications. Follow along as we assess a professor's suspicion about unusually varied student performance.

Uncover the mathematical methods used to determine various probabilities when selecting committees. Utilize combination formulas and probabilities to evaluate different teacher-parent combinations.

Discover how to calculate the 95% confidence interval for a population proportion using sample data. Through a practical example about texting habits among American teens, learn the implications of this statistical tool and how to assess plausibility.

Compare the voltages of Brand X and Brand Y batteries using statistical analysis. Learn how to determine a 95% confidence interval for their mean differences. Understand the process from data collection to interpretation of results.

Analyze Delaware's per capita annual income using statistical methods. Understand the probabilities associated with various income levels for a sample of state residents. Learn to use the Z score formula for such evaluations.

Uncover the relationship between confidence levels and interval widths. Grasp how the range of confidence intervals broadens with increasing confidence. Understand the trade-offs in statistical certainty and estimation.