Bus308 statistics for managers

User Generated

orgunal1973

Mathematics

Unformatted Attachment Preview

What is a hypothesis test? Why do we need to use them to make decisions about relating sample results to the population; why can’t we just make our decisions by the sample value? Guided Response: Review several of your classmates’ posts. Respond to at least two classmates by commenting on the potential differences in the results and how that might affect decision making. Variation exists in virtually all parts of our lives. We often see variation in results in what we spend (utility costs each month, food costs, business supplies, etc.). Consider the measures and data you use (in either your personal or job activities). When are differences (between one time period and another, between different production lines, etc.) between average or actual results important? How can you or your department decide whether or not the observed differences over time are important? How could using a mean difference test help? Guided Response: Review several of your classmates’ posts. Respond to at least two classmates and comment on the use of the test.
Purchase answer to see full attachment
User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Explanation & Answer


Anonymous
Awesome! Made my life easier.

Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4

Related Tags