Question: 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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