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This… Is… Business Statistics Jeopardy!

This… Is… Business Statistics Jeopardy!. Rules. Teams of five or less students. Choose team name… Write up four answer cards: A, B, C and D Answer when prompted. Winning team’s players earn a small bonus on Exam 3. Question 1.

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This… Is… Business Statistics Jeopardy!

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  1. This… Is… Business Statistics Jeopardy!

  2. Rules • Teams of five or less students. • Choose team name… • Write up four answer cards: A, B, C and D • Answer when prompted. • Winning team’s players earn a small bonus on Exam 3.

  3. Question 1 A two-tailed hypothesis test with α = 3% has what critical value(s)? • -1.88 • 1.88 • ± 1.88 • ± 2.17

  4. Question 1 A two-tailed hypothesis test with α = 3% has what critical value(s)? • -1.88 • 1.88 • ± 1.88 • ± 2.17

  5. Question 2 If a jury convicts an innocent defendant, this is an example of: • A Type α error. • A Type β error. • A Type 1 error. • A Type 2 error.

  6. Question 2 If a jury convicts an innocent defendant, this is an example of: • A Type α error. • A Type β error. • A Type 1 error. • A Type 2 error.

  7. Question 3 For the HT problem on the board, the zstat = • 0.92 • 1.82 • 2.05 • 3.40

  8. Question 3 For the HT problem on the board, the zstat = • 0.92 • 1.82 • 2.05 • 3.40

  9. Question 4 For the problem on the board, the correct interpretation of the p-value is: • There is only a 3.4% chance that the alternative hypothesis is true. • There is only a 3.4% chance that the null hypothesis is true. • There is only a 3.4% chance that we would get our data (or worse) assuming the alternative is true. • There is only a 3.4% chance that we would get our data (or worse) assuming the null is true.

  10. Question 4 For the problem on the board, the correct interpretation of the p-value is: • There is only a 3.4% chance that the alternative hypothesis is true. • There is only a 3.4% chance that the null hypothesis is true. • There is only a 3.4% chance that we would get our data (or worse) assuming the alternative is true. • There is only a 3.4% chance that we would get our data (or worse) assuming the null is true.

  11. Question 5 For the problem on the board, the final answer is: • Accept H0, the population mean is about 1000. • Accept H0, the sample mean is about 1000. • Reject H0, the population mean is greater than 1000. • Reject H0, the sample mean is greater than 1000.

  12. Question 5 For the problem on the board, the final answer is: • Accept H0, the population mean is about 1000. • Accept H0, the sample mean is about 1000. • Reject H0, the population mean is greater than 1000. • Reject H0, the sample mean is greater than 1000.

  13. Question 6 Which statement is FALSE: • A small p-value is evidence against the null. • A large p-value supports the null. • A critical value close to zero is evidence against the null. • A critical value close to zero supports the null.

  14. Question 6 Which statement is FALSE: • A small p-value is evidence against the null. • A large p-value supports the null. • A critical value close to zero is evidence against the null. • A critical value close to zero supports the null.

  15. Daily Double! • http://www.youtube.com/watch?v=E5LTzcDevrk • You can bet up to half your current score. • Leading team tells bet first… • If you are wrong, you lose the points. • 8 questions remaining. Category T-Pain

  16. Question 7: Daily Double For a left-tailed t-test (Ha: μ < 100) with n = 15 and α = 5%, the correct tcrit is: • 1.761 • 1.753 • 2.145 • None of the above.

  17. Question 7 For a left-tailed t-test (Ha: μ < 100) with n = 15 and α = 5%, the correct tcrit is: • 1.761 • 1.753 • 2.145 • None of the above. tcrit = -1.761.

  18. Question 8 Do FLC students spend more than $700 annually on textbooks? Assume that you survey 50 students and find that the average book cost is $817 with sd $223. At α = 5%, is there significant statistical evidence that, on average, FLC students spend more than $700 annually? • >, z, p • <, t, μ • ≠, z, p • >, z, μ

  19. Question 8 Do FLC students spend more than $700 annually on textbooks? Assume that you survey 50 students and find that the average book cost is $817 with sd $223. At α = 5%, is there significant statistical evidence that, on average, FLC students spend more than $700 annually? • >, z, p • <, t, μ • ≠, z, p • >, z, μ

  20. Question 9 A population proportion is claimed to be 75%. Your sample has n = 60 and x = 49. Is the claim right or wrong? What is the sample proportion? • 23% • 75% • 82% • 119%

  21. Question 9 A population proportion is claimed to be 75%. Your sample has n = 60 and x = 49. Is the claim right or wrong? What is the sample proportion? • 23% • 75% • 82% • 119%

  22. Question 10 A population proportion is claimed to be 75%. Your sample has n = 60 and x = 49. Is the claim right or wrong? Which is true: • The p-value absolutely rejects the null • The p-value rejects the null, but it’s close. • The p-value is plausible. • The p-value absolutely confirms the null.

  23. Question 10 A population proportion is claimed to be 75%. Your sample has n = 60 and x = 47. Is the claim right or wrong? Which is true: • The p-value absolutely rejects the null • The p-value rejects the null, but it’s close. • The p-value is plausible. • The p-value absolutely confirms the null.

  24. Question 11 On a Yes or No question, 65% of men (out of 40) answered Yes and 82% of women (out of 50) answered Yes. Is the percentage of women who answered Yes significantly higher (α = 5%)? • No, accept the null, they’re the same. • Yes, accept the null, the proportion is higher. • No, reject the null, they’re the same. • Yes, reject the null, the proportion is higher.

  25. Question 11 On a Yes or No question, 65% of men (out of 40) answered Yes and 82% of women (out of 50) answered Yes. Is the percentage of women who answered Yes significantly higher (α = 5%)? • No, accept the null, they’re the same. • Yes, accept the null, the proportion is higher. • No, reject the null, they’re the same. • Yes, reject the null, the proportion is higher.

  26. Daily Double! • http://www.youtube.com/watch?v=E5LTzcDevrk • You can bet your entire current score! • Leading team tells bet first… • If you are wrong, you lose the points. • 4 questions remaining. Category It’s All Greek to Me

  27. Question 12: Daily Double H0: μ1 = μ2 p-value = 17% Ha: μ1 ≠ μ2 zstat = -1.37 α = ??? zcrit = ± 2.33 • α = 1% • α = 2% • α = 5% • α = 10%

  28. Question 12 H0: μ1 = μ2 p-value = 17% Ha: μ1 ≠ μ2 zstat = -1.37 α = ??? zcrit = ± 2.33 • α = 1% • α = 2% • α = 5% • α = 10%

  29. Question 13 For an ANOVA test, which alternative hypothesis is not correct: • Not all the means are the same. • At least one mean is different. • All the means are different. • The means are not all the same.

  30. Question 13 For an ANOVA test, which alternative hypothesis is not correct: • Not all the means are the same. • At least one mean is different. • All the means are different. • The means are not all the same.

  31. Question 14 H0: μ = 600 p-value = ??? Ha: μ > 600 zstat = 2.65 α = 5% zcrit = 1.65 • p-value = 0% • p-value = 0.4% • p-value = 4% • p-value = 5%

  32. Question 14 H0: μ = 600 p-value = ??? Ha: μ > 600 zstat = 2.65 α = 5% zcrit = 1.65 • p-value = 0% • p-value = 0.4% • p-value = 4% • p-value = 5%

  33. Question 15 Assume that p-value = 2.3 * 10-8. Which statement is true? • The null hypothesis is absolutely false. • The null hypothesis is very, very likely false. • The null hypothesis is very, very likely true. • The null hypothesis is absolutely true.

  34. Question 15 Assume that p-value = 2.3 * 10-8. Which statement is true? • The null hypothesis is absolutely false. • The null hypothesis is very, very likely false. • The null hypothesis is very, very likely true. • The null hypothesis is absolutely true.

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