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Business Statistics
So there’s a series of questions that need to be done.
Choose 1 quantitative variable from your dataset for the following question: (Kevin)
Imagine a recent article covering your variable of interest has claimed the population mean is 20% higher than your sample mean. For example, you are using voter age and find that your data shows the average age is 35. Now, the news article has claimed that average voter age is actually 42.
a) (1 pt) Report the claimed population mean.
b) (1 pt) State the null hypothesis (in plain English).
c) (1 pt) State the alternative hypothesis (in plain English).
d) (2 pts) State both the null and alternative hypotheses in mathematical formula.
e) (1 pt) Pick an alpha level.
f) (1 pts) Calculate and report the appropriate critical value (aka critical score).
g) (2 pts) Calculate and report the appropriate test statistic.
h) (2 pts) State your conclusion in “statistics speak”.
i) (2 pts) State your conclusion in plain English.