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1. What is the difference between variance and standard deviation? Explain it with examples. 2. Explain the relationship between type I and type II errors
1. What is the difference between variance and standard deviation? Explain it with examples.
2. Explain the relationship between type I and type II errors and the power of a test.
3. What is hypothesis testing? State the five steps used in hypothesis testing.
4. What is the difference between a t-test and a z- test? Explain the characteristics with examples.
5. Explain Confidence Interval.
6. What is an Estimator? Explain the three properties of a good estimator.
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