Purchase Solution

Applications of inference and hyothesis testing

Not what you're looking for?

Ask Custom Question

In what areas of your business is it important to draw inference? Describe a time when drawing an inference may have hurt your business.

What is the significance of a one-tailed test as opposed to a two-tailed test? Describe a set of data that is one tailed. Describe a second set that is 2 tailed.

Purchase this Solution

Solution Summary

Document on real-worl examples and applications of statistical inference and hypothesis testing.

Solution Preview

In the areas of my business relating to projecting predictable mathematical trends such as financial and resource areas, it is important to draw inference in order to best prepare for probably future eventualities that can be reasonably predicted. A time when drawing an inference may have hurt my business was applying such reason to a qualitative, not quantitative area. The business I am thinking of is when I was a syndicated journalist with a column. I decided to quite supplying my column to any publication with a distribution below a semi-arbitrarily set level. The idea was to add to the prestige quality of the column by having it not published in serials of apparently little import. Later, I ...

Purchase this Solution

Free BrainMass Quizzes
Know Your Statistical Concepts

Each question is a choice-summary multiple choice question that presents you with a statistical concept and then 4 numbered statements. You must decide which (if any) of the numbered statements is/are true as they relate to the statistical concept.

Measures of Central Tendency

This quiz evaluates the students understanding of the measures of central tendency seen in statistics. This quiz is specifically designed to incorporate the measures of central tendency as they relate to psychological research.

Measures of Central Tendency

Tests knowledge of the three main measures of central tendency, including some simple calculation questions.

Terms and Definitions for Statistics

This quiz covers basic terms and definitions of statistics.