b. How is hypothesis testing used in politics? Explain your response. When and how would you use hypothesis testing at your place of employment?
A. Business research is critical in a company in my opinion. When a company needs to make important decisions, there are many factors that need to be considered such as:
- the resources that are needed to make this change
- the time it will take
- retaining employees
- buying new equipment/software/products...
Thus, you have to be 100% sure that this change is for the better, and it will advance the company. But the truth is, how do we determine IF in fact we should make a decision? It is critical not to rely on raw data, or on hunches. If a manager picks up on a certain trend, or examines data and thinks that there is interesting info in it, that is a wonderful stepping stone to a more scientific method of collecting data. However, large decisions can't be made on hunches or eyeballing data. This is a recipe for disaster. It would then be better to proceed with a formal research project with hypothesis testing to provide verification for your idea.
If you conduct formal research then you will be able to present your findings in a clear, scientific and convincing way, that will ...
This solution provides a detailed explanation of the given statistics questions.