Topic
Hypothesis Testing Case Study
Instructions
The purpose of this assignment is to develop students’ abilities to combine the knowledge of descriptive statistics covered in Weeks 1 and 2 and one-sample hypothesis testing to make managerial decisions. In this assignment, students will learn how statistical analysis is used in predicting an election winner in the first case. In the second case, students will conduct a hypothesis test to decide whether or not a shipping plan will be profitable.
Assignment Steps
Resources: Microsoft Excel®, Case Study Scenarios, SpeedX Payment Times
Develop a 700- to 1,050-word statistical analysis based on the Case Study Scenarios and SpeedX Payment Times.
Include answers to the following:
Case 1: Election Results
- Use 0.10 as the significance level (α).
- Conduct a one-sample hypothesis test to determine if the networks should announce at 8:01 P.M. the Republican candidate George W. Bush will win the state.
Case 2: SpeedX
- Use 0.10 and the significance level (α).
- Conduct a one-sample hypothesis test and determine if you can convince the CFO to conclude the plan will be profitable.
Format your assignment consistent with APA format.
Answer preview
Election results
In this case study we are required to undertake one sample test using the formulae
Whereby p-hat is the is the proportion of success, p is the minimum threshold, n is sample size and q is the probability of failing. The case study explains that we are concerned with the probability of George W. Bush been announced the winner.
Word count: 532