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Testing Hypotheses in Business - Speech or Presentation Example

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The paper "Testing Hypotheses in Business" focuses on the fact that Hypothesis testing plays an important role in business decision making. It is used in science and business to test assumptions and theories and ultimately guide managers when facing decisions…

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Subject: Statistics
Type: Speech or Presentation
Level: Undergraduate
Pages: 1 (250 words)
Downloads: 2
Author: hanepearline

Extract of sample "Testing Hypotheses in Business"

The assumptions that the population is normal, but it's standard deviation σ is unknown are being made for this computation. Yes, they are reasonable. In practice, the assumption of a normal population can be relaxed as long as the population is not badly skewed. Furthermore, we do not know the population characteristics, such as standard deviation, most of the time.

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