Lesson 16: Review for Exam 2

October 21, 2025

Review:

  • Significance Testing
  • Exam 2
    • Thu, Oct 23
    • Covers Lessons 8–15
  • Review with Rylee tomorrow (Wed) 1:30-4p in HSB 2nd floor conference

Exam 2 Topics:

  • Census
  • Sampling
  • Sampling Distributions
  • Central Limit Theorem
  • Estimation
    • Confidence Intervals = Point estimate +/- Margin of error
    • Z-table
    • t-distribution for small samples
    • Inference for Proportions
  • Significance Testing
    • Step 1. Set up Ho and Ha
    • Step 2. Calculate Z statistic
    • Step 3. Calculate p-value
    • Step 4. Compare p-value to alpha (0.05) and decide to Reject Ho or Fail to Reject Ho
  • Problem Types
    • Estimation with confidence intervals
      • Mean estimation with large sample (n>30)
      • Mean estimation with small sample (n<30)
      • Proportion estimation
    • Significance Testing
      • One-tail
        • Left tail (negative Z, simple table lookup)
        • Right tail (positive Z, 1 – table lookup)
      • Two-tail
        • Left tail (negative Z, simple table lookup), multiply x2
        • Right tail (positive Z, 1 – table lookup), multiply x2

Activity:

  • Practice Exam

Justin

Justin Holman is CEO of Aftermarket Analytics, where he leads efforts to develop cutting edge sales forecasting and inventory optimization technology for the Automotive Aftermarket. Prior to joining Aftermarket Analytics, Justin managed corporate consulting for the Strategy & Analytics division at MapInfo Corporation, leading major projects for retail clients including The Home Depot, Darden Restaurants, Bridgestone-Firestone, Sainsbury’s and New York & Company. Before that, Justin served as Vice President of Software Development at LogicTools, now part of IBM's supply chain application software group. Justin holds a B.A. from Claremont McKenna College, a Ph.D. from the University of Oregon and an Executive Management certificate from Northwestern University's Kellogg School of Management.

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