Analytics W3

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Professional Harvard CoRE (Business Analytics) Flashcards on Analytics W3, created by Georgia Tan on 05/07/2015.
Georgia Tan
Flashcards by Georgia Tan, updated more than 1 year ago
Georgia Tan
Created by Georgia Tan over 9 years ago
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Question Answer
What is the significance level The threshold at which we reject the null hypothesis
What indicates the strength of the evidence against the null hypothesis? The p-value
the smaller the p-value is, the stronger the evidence is against the null hypothesis.
Significance Level= 1–Confidence Level
What is a Type I Error? rejecting the null hypothesis when it is actually true
What is a Type 2 error ? when we fail to reject the null hypothesis when it is actually false.
A type I error is often called a _________ (we incorrectly reject the null hypothesis when it is actually true) false positive
a type II error is often called a_______ (we incorrectly fail to reject the null hypothesis when it is actually not true). false negative
The only difference in setting up a one-sided test versus a two-sided test is the _____ number of tails
How many tails for a 1-sided test? How many tails for a 2-sided test? 1 for a one-sided test and 2 for a two-sided test.
What is =T.TEST(array1, array2, tails, type)? Hypothesis Test on Excel
how to calculate the p value using excel? T.Test function
What is the purpose of single-population hypothesis test? collecting a sample from one population and testing to see if its average was significantly different from the historical average
What is the purpose of two-population hypothesis tests? comparing samples from two different populations - 1 is typically the control group and the other is the treatment group
To perform a two-sample test in Excel, which function do we use? we use the same T.TEST function we used earlier. only difference is that we use the actual data from the second sample for our second column of data.
The null hypothesis is the _______ of the hypothesis we are trying to prove (the alternative hypothesis). opposite
the theory or claim we are trying to substantiate is the _____ alternative hypothesis
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