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Hypothesis Testing

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Statistics
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Grantham University
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Running Head: WEEK 6: HYPOTHESIS TEST Topic Name Institution 1 WEEK 6: HYPOTHESIS TEST 2 Hypothesis Test: A major with Better ROI Qn1. For each of the 2 majors, conduct a full hypothesis test at the 10% significance level: (The mean ‘Cost’ for a college is $160,000). A full hypothesis testing was undertaken to establish the mean cost for a college for each of the major (Business and Engineering). Therefore, using an average cost of $160,000 if any of the major is less than $160,000, then the null hypothesis is rejected, and we can conclude that the major will not give a better ROI. On the other hand, if the mean cost is equal on more than $160,000, we can conclude that the major gives a better ROI. To obtain an accurate result, T-test One-sample for each major was completed via MS excel with 10% significance level. Our study question is: What is the best major regarding return on investment. H11: Business major has a higher mean cost than $160,000 H01: Business major has a lesser mean cost, which is less than $160,000 H12: Engineering major has a higher mean cost than $160,000 H02: Engineering major has a lesser mean cost, which is less than $160,000 Results Table 1: Hypothesis Test for Business Major Mean Variance Observations Hypothesized Mean Difference df t Stat P(T ...
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