Explore BrainMass

Research and Evaluation: Hypothesis Testing

a. What value is business research and hypothesis testing to a company? How long should it take a company to complete a scientific research study?

b. How is hypothesis testing used in politics? Explain your response. When and how would you use hypothesis testing at your place of employment?

Solution Preview

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 ...

Solution Summary

This solution provides a detailed explanation of the given statistics questions.