QuickHelper

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About QuickHelper

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Elementary,High School,College,University,PHD

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Accounting,Applied Sciences See all
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Teaching Since: May 2017
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Education

  • MBA, PHD
    Phoniex
    Jul-2007 - Jun-2012

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  • Corportae Manager
    ChevronTexaco Corporation
    Feb-2009 - Nov-2016

Category > Accounting Posted 30 Aug 2017 My Price 11.00

Phase 3 Hypothesis testing

Question description

 

This week you will begin working on Phase 3 of your course project. Using the same data set and variables for your selected topic that you used for phases 1 and 2, add the following information to your analysis:

  1. Discuss the process for hypothesis testing.
    1. Explain the 8 steps of hypothesis testing
    2. When performing the 8 steps for hypothesis testing, which method do you prefer; P-Value method or Critical Value method? Why?
  2. Perform the hypothesis test. 

    (Salaries):

    Claim: The average salary for all jobs in Minnesota is less than $65,000. Test the claim using α = 0.05 and assume your data is normally distributed and σ is unknown.

    Based on your selected topic, perform and document the following steps:

    1. Write the null and alternative hypothesis symbolically and identify which hypothesis is the claim.
    2. Is the test two-tailed, left-tailed, or right-tailed? Explain.
    3. Which test statistic will you use for your hypothesis test; z-test or t-test? Explain.
    4. What is the value of the test-statistic? Show your calculation
    5. What is the P-value? Explain how you determined it
    6. What is the critical value? Explain how you calculated it
    7. What is your decision? Reject the null or do not reject the null? Explain why you made your decision including the results for your p-value and the critical value.
    8. State the final conclusion in non-technical terms.

Please show your work for the construction of the test-statistic

and explain your process for finding the p-value and critical value.

You may use the Equation Editor to format your calculation steps on the

Word document/ Attached is the word documents that will help with this assignment

Attachments:

Answers

QuickHelper
(10)
Status NEW Posted 30 Aug 2017 06:08 PM My Price 11.00

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