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Variability
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... • Interpretation of the 95% confidence interval: – There is 0.95 probability that the sample mean will be equal to a value such that the interval (LCL, UCL) will include the population mean – If the same procedure is used to obtain a confidence interval estimate of the population mean for a sufficie ...
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... is larger than, smaller than, sometimes larger and sometimes smaller than, or equal to the population mean of $4.5 million. Four students choose larger, 17 choose smaller (a sensible choice because most values in the skewed population are smaller than the mean), 8 choose sometimes larger and sometim ...
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lecture 16.5: estimating population percentage (16.5

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Student's t-test

A t-test is any statistical hypothesis test in which the test statistic follows a Student's t-distribution if the null hypothesis is supported. It can be used to determine if two sets of data are significantly different from each other, and is most commonly applied when the test statistic would follow a normal distribution if the value of a scaling term in the test statistic were known. When the scaling term is unknown and is replaced by an estimate based on the data, the test statistic (under certain conditions) follows a Student's t distribution.
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