Overview
Error type matrix, need to make a scenario to accept or reject the null (use the ryan tab 2, award process as the story and in need the excel done to match the fake data.)
And we need the other excel as well, they prefer I and MR Chart (on the control chart attachment)
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Lesson Overview,
In this lesson, we examined the essential concepts of the central limit theorem, confidence intervals, and sample sizes. Each of these components plays a crucial role in helping us make informed and educated estimates about unknown populations.
Consider the task of determining the average number of green marbles in a large container. You do not need to count every marble to achieve an accurate estimate. The central limit theorem serves as our mathematical foundation, assuring us that a sample can be a reliable miniature representation of the larger population, enabling us to draw valid conclusions.
Confidence intervals provide valuable insights regarding the likelihood of drawing another green marble based on the samples we have already analyzed. Additionally, understanding sample sizes is vital, as it tells us how many marbles we need to pull in order to refine our estimates and improve accuracy.
Finally, we delved into the nuanced language of statistical testing and the challenges it can pose for those who are new to the field of statistics.
For your homework, please select ONE of the following homework options:
- Apply the Sample Size Calculator to create a scenario similar to the gas station example. Explain how modifying the margin of error and the confidence level will affect the required sample size.
- Hypothesis Language: Used to help you work through your homework assignment on Type 1 and Type 2 Errors
Attachments:
- Confidence Interval for the Mean and Sample Size Calculator: (Use for Homework) A visual breakdown of the Confidence Interval calculation and a sample size calculator
- Hypothesis Language: (Use for Homework) A PPT to help orient you to the in’s and out’s of hypothesis language
- BONUS: Central Limit Theorem Simulator: A tool to help you explain the central limit theorem
All files can be found in the DAF Black Belt Community of Practice > 25-012 > Files > Week 2 Folder