scm study guide 2
scm study guide 2 200
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This 0 page Study Guide was uploaded by Evangelos Katradis on Sunday March 13, 2016. The Study Guide belongs to 200 at Pennsylvania State University taught by Marilyn Blanco in Fall. Since its upload, it has received 80 views. For similar materials see Supply Chain Management (business statistics) in Business at Pennsylvania State University.
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Date Created: 03/13/16
Scm 200 Study Guide 2 Sampling distribution probability distribution shows all possible sample results for a given sampling situation Not a population not a sample distribution Depends on 1 sample size n 2 statistic being computed mean median range etc TF A sampling distribution is a distribution of all possible values of a statistic for a given sample size T TF All standard deviations are standard errors SE are standard deviations F TF Given a population standard deviation as sample size increases standard error also increases F Steps in Testing Hypotheses 1 formulate a null and alternative hypothesis 2 specify a level of significance alpha 3 Specify the appropriate Test Statistic 4 take random sample and calculate the value of the Test Statistic 5 compute the pvalue and compare it with alpha 6 draw conclusion accept or reject Ho Pvalue it is a probability it is like a weight of evidence with regard to the null hypothesis it is computed from the sample data probability of obtaining the observed value or values more extreme than the observed value large pvalue supports the null small pvalue support the alternative Pvalue decision rule reject Ho if the pvalue is less than or equal to the level of significance TF In order to compute the pvalue from the sample data we need to know both the alternative hypothesis and the level of significance F pvalue lt alpha Reject pvalue gt alpha Accept
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