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p-value
a number between 0 and 1 that quantifies how confidence we can be a random variable is different from our null hypothesis
p-value vs. classic hypothesis training
classic: compares critical value to Sample Z
-p-value: use Sample Z as critical value, then calculate its areas and compare to alpha
general steps for classic hypothesis
-identify key statistics (mean, sample mean, standard deviation, etc)
-find Sample Z
-find critical value of population using α (graphing helps)
-compare Sample Z to critical value and see if Ha is true
general steps for p-value
-same steps as classic hypothesis
-make Sample Z the critical value and find its area on Z/T table (p-value)
-compare with given α and see if it’s less than
upper limit p-value
-upper limit: P(Z > whatever) == 1 - [table_entry]
lower limit p-value
-lower limit: P(Z < whatever) == [table_entry]
two-tailed p-value
-two-tailed: P(Z ≠ whatever) == 2*(Z > whatever)
Type I Error (α)
probability of rejecting H0 when H0 is actually true
Type II Error (β)
probability of accepting H0 when H0 is actually false