Business Statistics Need Fast

Jun 22nd, 2014
Business & Finance
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Question description

The independent t-test is based on which distribution?
@Answer found in section 4.5 The Independent Samples t-Test, in Statistics for Managers
  The distribution of difference scores.
  The distribution of sample means.
  The distribution of error scores.
  The distribution of z.

 Statistical significance for a tested mean difference means practical significance as well. 

 The mean of the distribution of sample means will have the same value as the mean of the distribution of individual scores upon which it is based. 

The z-test can be used to test mean differences even when the initial data set is not normally distributed.
The standard error of the mean is actually the standard deviation of all of the means that make up the distribution of sample means.

 What is the alternate hypothesis in a problem where sales group two is predicted to be “. . . significantly less productive than sales group one?”
@Answer found in sections 4.3 The One-sample t-Test and 4.4 Hypothesis Testing, in Statistics for Managers
≠ μ 2
  HAμ 1μ 2 
  HAμ 1μ
  HAμ 1μ 2

 Which of the following defines statistical significance? 
  The outcome is unlikely to have occurred by chance.
  The outcome is important.
  The outcome is unusual.
  The outcome is one that can be explained by normal circumstances.

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