6 steps in Hypothesis Testing
Critical value approach
State null (H0)and alternative (H1) hypotheses
Choose level of significance, α, and sample size, n
Determine appropriate test statistic and sampling distribution (Z or T)
Determine critical values and identify rejection and non-rejection regions
Collect data, compute test statistic value, and see which region it falls in
Make statistical decision and state managerial conclusion in the context of the business problem
8.3 step 3 hypothesis testing
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Transcript
6 steps in Hypothesis Testing
Critical value approach
State null (H0)and alternative (H1) hypotheses
Choose level of significance, α, and sample size, n
Determine appropriate test statistic and sampling distribution (Z or T)
Determine critical values and identify rejection and non-rejection regions
Collect data, compute test statistic value, and see which region it falls in
Make statistical decision and state managerial conclusion in the context of the business problem