Question

Write one mistake that a person can make when using hypothesis testing (e.g., NHST), and write one step that they can take to ensure that the mistake is not made in the future

Answer #1

Someone mentioned that a common mistake that happens when "a
company estimates the WACC is using the coupon rate on a company's
existing debt as a pre-cost of debt". Companies that are not
experienced in accounting or finance could easily use the wrong
data to estimate the WACC. It is hard to use any type of estimation
calculation because it will never be perfect as one can not predict
the future. The use of the correct information is extremely
important....

What should one take into consideration when testing the null
hypothesis of the equality of two means using small samples?

When we conduct a hypothesis test, there are two ways to make a
mistake. The null hypothesis might be correct, and we end up
rejecting it. This is called a Type I error. On the other hand, the
null hypothesis might be false, and we fail to reject it. This is
called a Type II error. Either type of error can be costly, though
not necessarily equally costly. In the following two scenarios,
think about what is the alternative hypothesis?...

CHAPTER NINE: One-Population Hypothesis
Testing:
Perform the five-step hypothesis testing approach for the
following problem below, including an appropriate diagram
as illustrated in class.
The mean time using the present technology that Donald Co. uses
to make widgets takes 12 minutes a widget. Donald Co. is
experimenting with a new method, and conducted a sample by making
30 widgets with the new method. The sample using the new
method obtained a mean of 11.2 minutes per widget, with a sample
standard deviation...

Take a moment to reflect on what you have learned in this module
about hypothesis testing in general and A/B testing in particular.
In what other scenarios or industries do you think this type of
analysis would be helpful? What precautions should you take when
designing such tests? How can you ensure that your results are
representative of your target population?

Which of the following statements is true if when using null
hypothesis testing, our p value (in the “sig” column of SPSS
output) is 0.063?
Fail to reject the null hypothesis
Reject the null hypothesis
Cannot determine with the information provided
What graph type is most appropriate for a Chi Square Test of
Independence?
line chart
box plot
bar graph (# cases or count with no error bars)
clustered bar graph (# cases or count with no error bars)
Which...

Describe one factor that you would need to take into account
when using a person-centred approach to care for a person with
dementia. (Approx. 50 words).

1- When conducting hypothesis testing, the P value (also known
as a Prob value) for the test allows one to make a decision whether
to reject the null hypothesis or not. Explain what the P value
represents and how it is used to decide whether to reject the null
hypothesis or not.

T F 1. A p-value of .008 in hypothesis testing means there is
only a .8% chance we could get such sample statistics from the
population if the null hypothesis is as stated. Such an event is
considered unlikely and we would reject the null hypothesis.
T F 2. As a general rule in hypothesis testing, it is always
safer to set up your alternate hypothesis with a greater-than or
less-than orientation.
_____3. If the level of significance is .02...

answering the question(s), make sure to write down the following
7 steps.
Step 1: Establish null and alternate hypotheses State the null
and alternative hypothesis (as a sentence and formula).
Step 2: Calculate the degrees of freedom
Step 3: Calculate t critical using critical t – table
Step 4: Calculate the Sum of Square deviation (SSD)
Step 5: Calculate t obtained
Step 6: Specify the critical value and the obtained value on a
t-distribution curve
Step 7: Decision and Conclusion...

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