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Business Decision Making

Research hypothesis testing and discuss about hypothesis testing and its purpose.

Use your research findings to define and to formulate a null hypothesis and the corresponding alternative hypothesis that could be tested.

Describe one-tailed and two-tailed hypothesis testing along with some examples.

Provide some research-based examples of business applications of hypothesis testing.

Discuss about two types of errors that might happen when testing a null hypothesis.

Also, discuss about necessary assumptions to use the hypothesis testing.

Describe any problems you had, if any, while developing the null and alternative hypotheses in your group.

o Describe the hypotheses, and explain why your group decided on them.

o Explain the purpose of developing null and alternative hypotheses and how they can be used to make important decisions in a business setting such as the credit incentives of Armed Forces Credit Union.

715 words

Solution Preview

I can give you some answers to help you do this assignment. I have no idea what your research is on, so creating the null and alternate will be impossible, but I can give you an example.

Hypothesis testing is used to verify your theory. It is done by testing the null or opposite hypothesis. When the null is proven, your theory cannot be correct or needs some adjustment. Hypothesis testing tests for correlations, relevance, ranges, and levels of confidence. The null will point out there is no relationship, nothing in the observable data to show that the theory is true. The alternative hypothesis shows there is a relationship or that there is truth proven in the data.

Null: H0: Men are not smarter than dogs.
Alternative:H1: men are smarter than dogs.

The alternative states the opposite of the null or a difference. There can be a null and alternative that looks like, H0: x = y H1: x< y. There is no ambiguity if the null fails.

One tail and two tailed hypothesis testing: One tail ...

Solution Summary

The business decision making is examined.