This project guides you through the scientific analysis of a business or personal question using the statistical process known as hypothesis testing. In the project, you will formulate a research question based on a business setting. You will define null and alternative hypotheses, test these hypotheses, and use the testing outcomes to draw conclusions about your research question.
Complete Part One of the project and save it. Once you have completed both parts of the project, submit both parts of this project document and any supporting documents to your instructor for final grading. Submit buttons can be found on the Part Two assignment page. Information about the grading rubric is available on both of the course project assignment pages online. Do not hesitate to contact your instructor if you have any questions about the project.
Part One – Set Up the Hypothesis Test
In this part of the project, you will identify a question that you are trying to answer. This question may be connected to a specific decision, or it may relate to a broader strategy. You will cast this question as a set of null and alternative hypotheses. You will consider the downside risk of errors related to that decision, define your risk tolerance in terms of an alpha value, and you’ll identify the test statistic you plan to use.
In order to satisfy this part of the project, you will fill in the five items and complete the table below.
1. Question: (state your question here in one sentence)
2. H0: (state your null hypothesis here in one sentence)
3. Ha: (state your alternative hypothesis here in one sentence)
4. Test statistic: (state in terms of a mean or a proportion)
5. Complete the table by filling in the downside risk of the false positive and false negative errors, and indicating what alpha (critical p-value) you’ll choose and what measures you might take to mitigate Type II errors.
Part Two – Test, Analyze, and Conclude
In this part of the project, you will restate the null and alternative hypotheses mathematically, select and implement a statistical test, and interpret the results of the test in terms of your original question.
In order to satisfy this part of the project, you need to:
• Choose a statistical test and complete it using the Test Templates Excel workbook. You will need to submit a copy of this workbook for credit.
• Fill in the six items below.
Restate the null and alternative hypotheses mathematically. (Feel free to spell out any Greek letters or mathematics symbols, e.g. “mu” “p-hat”)
If you need to revise the null or alternative since completing Part One of the project, indicate the change by adding “(REVISED)” next to the hypothesis
1. H0: (state your null hypothesis mathematically)
2. Ha: (state your alternative hypothesis mathematically)
3. p-value calculated: (write as a decimal; for very small numbers using scientific or engineering notation; e.g. 0.00000035 should be written 3.5 E -7)
4. Were you able to reject the null? (yes / no)
5. What conclusion can you draw about the original question?
6. What unexpected information, if any, did hypothesis testing reveal about your original question?
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