Remembering values for Confidence levels completed, remember, everyone, problems, question

skycfa

Greetings,
Hope everyone is doing great. I just completed Vol 1 of Level 1 for Dec 08.
I had a question about values for the 95% Confidence level for a 1 tailed and 2 tailed test . are we supposed to remember those values ? Like for 90% , 95% and 99%. I keep getting mixed up with them esp when its for 1 tailed versus 2 tailed.
Is there a pattern to remember it or can we compute it instead from the Normal Dist tables ?
Finally, should one expect problems on the Spearman Rank coefficient (Reading in Hypothesis testing. )

genuinecfa

expect anything on the exam …

yuoska

Absolutely you have to remember that.
no table was given during exam

Elliotbay

this time there was only one question that required use of zvalue, and 1.65 value was given in the question. No tables were provided though.

JustasS

As a thumb rule, we need to remember values for 68, 90, 95, 99%. I reckon that if CFAI decide to give some other confidence interval, it would provide the values as well.

kickthatcfa

If you can’t remember 4 numbers, you don’t deserve to be a CFA Charterholder…
Having said that, I’ve forgotten those numbers already (ha ha)… oops

pawn

I’m sure if you know how to compute Spearman (rank data, calculate Pearson on ranks) and when it might be more useful than Pearson (when the data are not bivariate normal and/or with significant outliers) that would be plenty.

soddy1979

Pearson = usual correlation coefficient
Spearman = correlation with ranked data. Gotten big in finance literature because copulas have gotten big and the Spearman correlation coefficient is the first example in every beginning article ever written about copulas.
Edit: For fun, do google search on Spearman copula

mnieman

did copula direct the godfather?

wake2000

Yes and then went into the midmarket wine business.