State the steps involved in a hypothesis test


A hypothesis test involves the following steps:

1 . Formulate the hypothesis to test.
2 . Select a level of significance.
3 . Determine a decision rule on which to base a conclusion.
4 . Collect data and calculate a test statistic.
5 . Apply the decision rule to the test statistic and draw a conclusion.

Business

You might also like to view...

One key benefit provided by a broad market definition is that it concentrates a business' focus on articulated customer needs

Indicate whether the statement is true or false

Business

The GLOBE study found that some leadership behaviors are universally effective such as charismatic/value-based leadership. This universal leadership characteristic includes _______ primary dimensions.

*a. six b. two c. four d. seven

Business

If you are turned down for a position, employment specialists recommend writing a rejection follow-up letter to the potential employer

Indicate whether the statement is true or false

Business

When you go to an interview, you should avoid doing all but one of the following:

A) Smoking. B) Wearing heavy jewelry. C) Watching your body language. D) Chewing gum or drinking coffee. E) None of the above are acceptable.

Business