Bp Products
Analyzing and Interpreting Data Paper
QNT/351
May 13, 2013
Mr. James Malachowski
Analyzing and Interpreting Data Paper
The culmination of a research study includes being able to analyze and interpret the data that has been collected. This paper will provide the null and alternative hypothesis, explain the hypothesis testing procedure used, describe the results of that test, and explain how those results will answer the team’s previously stated research question.
Null and Alternative Hypotheses
Forming the null and alternative hypothesis is an important part of statistics. Looking at housing data set provided by the text (Lind, Marchal, & Wathen, 2011) Team C wanted to know if the square footage of the house is directly related to the price of the home, and decided to make that the null hypothesis. The alternative hypothesis will be used to accompany the null hypothesis and is, the evidence suggests that square footage does not determine how much a home will cost.
Level of Significance
To find the rejection region of the hypothesis, “numerical values of the test statistic for which the null hypothesis will be rejected,” a level of significance should be chosen (McClave, Benson, & Sincich, 2011, P.325). It is usually a very small number, for example .01, .05, or .10, to be the level of significance of this test (McClave, Benson, & Sincich, 2011). Most tests use the .05 significance level. Using the .05 significance level will help determine the critical value to see if the hypothesis should be rejected regarding square footage directly relating to the price of the home.
Test Statistic Used
(Quinta)
Decision Rule
(Sonoma)
A decision rule uses information from a sample to make a choice between two hypotheses the null and alternative hypothesis. The null hypothesis usually states that there is no relationship between two-measured events. While the alternative hypothesis is the hypothesis to be accepted once the null hypothesis is
QNT/351
May 13, 2013
Mr. James Malachowski
Analyzing and Interpreting Data Paper
The culmination of a research study includes being able to analyze and interpret the data that has been collected. This paper will provide the null and alternative hypothesis, explain the hypothesis testing procedure used, describe the results of that test, and explain how those results will answer the team’s previously stated research question.
Null and Alternative Hypotheses
Forming the null and alternative hypothesis is an important part of statistics. Looking at housing data set provided by the text (Lind, Marchal, & Wathen, 2011) Team C wanted to know if the square footage of the house is directly related to the price of the home, and decided to make that the null hypothesis. The alternative hypothesis will be used to accompany the null hypothesis and is, the evidence suggests that square footage does not determine how much a home will cost.
Level of Significance
To find the rejection region of the hypothesis, “numerical values of the test statistic for which the null hypothesis will be rejected,” a level of significance should be chosen (McClave, Benson, & Sincich, 2011, P.325). It is usually a very small number, for example .01, .05, or .10, to be the level of significance of this test (McClave, Benson, & Sincich, 2011). Most tests use the .05 significance level. Using the .05 significance level will help determine the critical value to see if the hypothesis should be rejected regarding square footage directly relating to the price of the home.
Test Statistic Used
(Quinta)
Decision Rule
(Sonoma)
A decision rule uses information from a sample to make a choice between two hypotheses the null and alternative hypothesis. The null hypothesis usually states that there is no relationship between two-measured events. While the alternative hypothesis is the hypothesis to be accepted once the null hypothesis is
References: Lind, D.A., Marchal, W.G., & Wathen, S.A. (2011). Basic statistics for business and economics (7th ed.). Retrieved from The University of Phoenix eBook Collection database MEGASTAT (For Microsoft Excel 2007 Users) [Computer Software]. Retrieved from https://ecampus.phoenix.edu/secure/aapd/megastat/install.htm McClave, J.T., Benson, P.G., & Sincich, T. (2011). «Statistics for business and economics» (11th ed.). Retrieved from The University of Phoenix eBook Collection database.