State appropriate null (Ho) and alternative (H1) hypotheses. What is the critical value if we work with a significant level α = 0.05? What is the decision rule? Calculate the test statistic.
Hypothesis testing is used in business to test assumptions and theories. These assumptions are tested against evidence provided by actual, observed data. A statistical hypothesis is a statement about the value of a population parameter that we are interested in. Hypothesis testing is a process followed to arrive at a decision between 2 competing, mutually […]