Purpose of Assignment

This assignment provides students with practice in understanding how to develop a hypothesis and interpret its findings. Students will learn to implement the use of these statistical measures for better business decision-making.

Assignment Steps

Resources: Week 4 Videos; Week 4 Readings; Statistics Lab

Tutorial help on ExcelÂ® and Word functions can be found on the MicrosoftÂ® Office website. There are also additional tutorials via the web offering support for Office products.

Use the same business problem/opportunity and research variable you wrote about in Week 3.

Note: Do not actually collect any data; think hypothetically.

Develop a 1,050-word report in which you:

• Identify which types of descriptive statistics might be best for summarizing the data, if you were to collect a sample.
• Analyze which types of inferential statistics might be best for analyzing the data, if you were to collect a sample.
• Analyze the role probability or trend analysis might play in helping address the business problem.
• Analyze the role linear regression for trend analysis might play in helping address the business problem.
• Analyze the role a time series might play in helping address the business problem.

Format your assignment consistent with APA guidelines.

Watch the instructional video by clicking on the Lynda.comÂ® link.

Type the title “Statistics Foundations: 2” in the Search Bar to find the video.

Watch the following tutorials from Section 5:

• Type I and Type II Errors

Consider the following as you watch:

• Which is the most common error?

Watch the instructional video by clicking on the Lynda.comÂ® link.

Type the title ” Statistics Foundations: 2″ in the Search Bar to find the video.

Watch the following tutorials from Section 5:

• How to Test a Hypothesis in Four Steps

Consider the following as you watch:

• List four steps to test a hypothesis.
• Identify how to state an alternative hypothesis.
• What are different types of errors are produced from hypothesis testing? Explain.