Statistics for Management Unit 9 Unit 9 Testing of Hypothesis in Case of Large and Small Samples Structure: 9.1 Introduction Objectives Relevance Assumptions 9.2 Testing Hypothesis Null and Alternate hypothesis Interpreting the level of significance Hypothesis are accepted and not proved 9.3 Selecting a Significance Level Preference of type I error Preference of type II error Determine appropriate distribution for the test of Mean 9.4 Two–tailed Tests and One–tailed Tests
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Bibliography: McClave‚ J. T.‚ Benson‚ G. P.‚ Sincich‚ T. (2011). Statistics for business and economics (11th ed.). Boston MA: Pearson & Prentice Hall.
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BBA / BHTM 300 – STATIATICS II COURSE DESCRIPTION-STATISTICS-II Business statistics is a rich interactive learning experience designed to give students the basic intellectual tools and aptitudes they need to meet today’s business challenges The course is also aimed at equipping the students with the skills of real socio-economic processes‚ economic interpretation of analysed data‚ its applied statistic analysis‚ construction‚ identification and verification of statistical models of
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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
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hours?) (a) Use the steps of hypothesis testing. (b) Sketch the distributions involved‚ (c) Explain your answer to someone who has never taken a course in statistics. Answer Null hypothesis H0: = 24 hours Alternative hypothesis: H1: ≠ 24 hours Df = 7 Critical t value = ±2.36 Sample Mean = 25 Standard deviation = 1.195 The test statistic used is P-value = 0.049867231 Since calculated p-value 0.049867231 is slightly less than 0.05(significance level) therefore we reject the null hypothesis
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published Examples Statistics from police headquarters Graphs – to compare the number of crimes men make against women over time Why did you choose this method? It gives the availability of measuring the history of men and women committing crimes Positives Easy to access Time consuming Cheap Objective to the study (leave emotions out of the study) Negatives Not all crimes are reported which could mean the statistics could be invalid Can only look at statistics from a small minority
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An estimated regression coefficient is 10 with a standard error of 5. The null hypothesis is that the partial regression coefficient equals zero. What is the value of the t-statistic for testing the null hypothesis of the regression coefficient? Choose one answer. | a. 2 | | | b. 0.5 | | | c. 5 | | | d. 1 | | Correct Marks for this submission: 1/1. Question 2 Marks: 1 Given the demand function in log-linear form: Q = 120 - 1.5P + 12ADV where Q = quantity‚ P = price‚ and ADV
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measurement data must be utilized. The task of evaluating the latest performance measures and aligning business strategy accordingly pose serious challenges to managers who must balance daily business demands with long-term strategic goals. The use of statistics to meet these goals and to design a comprehensive performance analysis is vital. For example‚ consider the research around employee held corporations (ESOP) such as Southwest Airlines. An analysis of the performance of such companies finds that
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Graduate School of Business Master in Business Administration Term paper requirement for Quantitative Techniques in Management Using Statistical Tool Analysing House Price Construction in Luzon Using Multiple Regression Analysis January 2014 Abstract This paper illustrates how Multiple Regression Analysis been used in explaining price variationfor selected houses. Each attribute that theoretically identified as price determinant is priced and the perceived
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Importance of Statistics in Different Fields Statistics plays a vital role in every fields of human activity. Statistics has important role in determining the existing position of per capita income‚ unemployment‚ population growth rate‚ housing‚ schooling medical facilities etc…in a country. Now statistics holds a central position in almost every field like Industry‚ Commerce‚ Trade‚ Physics‚ Chemistry‚ Economics‚ Mathematics‚ Biology‚ Botany‚ Psychology‚ Astronomy etc…‚ so application of statistics is very
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