Statistics for Managers

Management
Tutor: None Selected Time limit: 1 Day

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?

Oct 11th, 2014

Hypothesis test is a test regarding the parameter of the population or regarding the population.

It is not possible that the sample value will actually coicide with the corresponding value of the population. Hence we need to ascertain whether the sample evidence is in conformity with the population.

Oct 11th, 2014

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Oct 11th, 2014
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