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Hypotheses, Type I and Type II errors.

Carpet land salespersons average $ 8000 per week in sales. Steve contains, the firm's vice presidents, proposes a compensation plan with new selling incentives. Steve hopes that the results of a trial selling period will enable him to conclude that the compensation plan increases the average sales per salesperson.
1) Build up the appropriate null and alternative hypotheses.
2) What is the Type I error in this situation? What are the consequences of making this error?
3) What is the Type II error in this situation? What are the consequences of making this error?

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Statistics and Probability, Statistics

Category:- Statistics and Probability
Reference No.:- M922816

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