5. A random draw (with replacement) of 1000 balls from a pool of several million balls is conducted. Each ball is either blue or red. Let p denote the fraction of blue balls in the population. Let p denote the fraction of blue balls in the sample. You want to test the competing hypotheses Họ: p = 0.4 vs. H1: p # 0.4. Suppose that you decide to reject Ho if |p – 0.4| > 0.01. Note that the sample of 1000 balls is considered as a large sample. What is the type l error of this test? a. 0.178 b. 0.256 c. 0.367 d. 0.488 e. 0.519
Inverse Normal Distribution
The method used for finding the corresponding z-critical value in a normal distribution using the known probability is said to be an inverse normal distribution. The inverse normal distribution is a continuous probability distribution with a family of two parameters.
Mean, Median, Mode
It is a descriptive summary of a data set. It can be defined by using some of the measures. The central tendencies do not provide information regarding individual data from the dataset. However, they give a summary of the data set. The central tendency or measure of central tendency is a central or typical value for a probability distribution.
Z-Scores
A z-score is a unit of measurement used in statistics to describe the position of a raw score in terms of its distance from the mean, measured with reference to standard deviation from the mean. Z-scores are useful in statistics because they allow comparison between two scores that belong to different normal distributions.
Statistics
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