# Statistics

## Example problem re: Goodness of Fit test:

You are given a six-faced die and asked to determine with 95% confidence if it is “fair.” What are the hypotheses? Answer: the null H0: the die is fair, p1 = p2 = … = p6 = 1/6; the alternative Ha: the die is not fair, at least one pi ≠ 1/6. What is the …

## Zero Correlation?

I can see your confusion. To understand why I said that variables that have “zero correlation” might still be related, you need to remember that we were speaking of traditional correlation which is a linear relationship. We were discussing the Pearson moment correlation which we designate as “r.” An r of zero tells us that …

## What’s so difficult about confidence intervals

Interpretation of Confidence Interval I admit that it is almost common usage to say that a parameter of interest lies in the confidence interval we construct around a sample statistic, so I won’t count off for that answer. But the most accurate meaning of the confidence interval is that

## The F-test using Excel

I teach graduate statistics, otherwise known as quantitative methods/analytics. I have found a lot of good statistics tutorials on You Tube and have recommended some to my students. Because these students are MBA students and not Ph.D. students, I am more concerned with my students leaving the course knowing how to use technology to help them solve business problems …

## Why Study Statistics?

I teach graduate and undergraduate statistics (quantitative analysis) and I am often asked by business students struggling with the numbers “what am I really going to use this for in real life?” True it may be difficult at first to understand the relevance of pure number crunching using the binomial distribution or chi square. So …

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