Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Statistics and Probability Expert

In order to effectively apply the null hypothesis concept in addressing management dilemma, five steps are identified:

(i) Stating the null hypothesis: This is stating the null hypothesis that is being tested, such as the cholesterol levels of Fortune 500 CEOs is 205. High cholesterol levels among CEOs may be a concern reflected in reduced productivity rates of CEOs as they may visit hospitals frequently for treating. The researcher must the null hypothesis so that it clearly and perfectly describes a particular situation. 

(ii) Selecting a level of significance: This is the probability of rejecting the null hypothesis when it is true. Some times it is also called the level of risk, because rejecting a null hypothesis when it is true constitutes a risk.

(iii) Selecting the test stastic: This is a value which is determined from sample information. It is used to determine whether to reject the null hypothesis.

(iv) Formulating the decision rule: The decision rule is used to state the conditions when the null hypothesis is rejected. 

(v) Making a decision: This is the final step in hypothesis testing. The purpose is to determine whether or not to reject the null hypothesis. The researcher or scholar-practitioner bears a responsibility--that should never be taken lightly--whether or not to accept the hypothesis

Question: Based on the above five steps, how would you ensure that your Hypothesis testing yields credible results?

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M92408141
  • Price:- $25

Priced at Now at $25, Verified Solution

Have any Question?


Related Questions in Statistics and Probability

Determine the sample size n needed to construct a 99

Determine the sample size n needed to construct a 99?% confidence interval to estimate the population mean when σ=24 and the margin of error equals 9.

Explain the similarities and differences between bagging

Explain the similarities and differences between "bagging" and "boosting" in predictive analytics.

1 assume that the international average homicide

1) Assume that the international average homicide victimization rate is 2.92 (per 100,000). In a sample of 24 industrialized nations, LaFree and Drass (2002) found that the mean homicide victimization rate was 1.49 (per ...

Future value of an annuitywhat is the future value of a 470

Future Value of an Annuity What is the future value of a $470 annuity payment over 7 years if the interest rates are 6 percent?

Approximately once a month cars are shipped from rotterdam

Approximately once a month cars are shipped from Rotterdam, Holland to Lagos, Nigeria. The past data collection indicates that the weight of a car is normally distributed with the mean of 1,070 kg and the  standard devia ...

Acme airlines flies airplanes that seat 20 passengers from

Acme Airlines flies airplanes that seat 20 passengers. From experience, they have learned that, on average, 85% of the passengers holding reservations for a particular flight actually show up for the flight. If they book ...

Question i dont understand how you would test if the data

Question: I don't understand how you would test if the data shows that there is a difference between some supplies if the testing level is at 1%? Can you show me the steps of how you would test if the data shows that the ...

Aprobability experiment consists of rolling a 6-sided die

A probability experiment consists of rolling a 6-sided die. What is the probability of rolling a number less than 6.

What considerations do you need to take when considering

What considerations do you need to take when considering "time value of money"? Why is the following statement true? "A dollar today is worth more than a dollar tomorrow."

Describe the scales of measurement of data that should be

Describe the scales of measurement of data that should be summarized by a measure of location such as a sample mean and a sample median? When is the sample median a better measure of location than the sample mean? Why do ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As