In: Statistics and Probability
Std. Err (standard error): The average deviation of sample
means from the hypothesized population mean of...
- Std. Err (standard error): The average deviation of sample
means from the hypothesized population mean of 4.73 drinks is about
0.44 drinks.
- T-stat (T-score): The observed sample mean of 3.93 drinks is
1.8 standard errors below the hypothesized population mean of 4.73
drinks.
- P-value: If the population mean is 4.73 drinks, there is a 7.2%
chance that sample means will have an error larger than that
observed in our sample (observed error = 4.73 – 3.93 = 0.8 drinks)
when selecting random samples of 75 students.
Can someone summarize these points