BUSN311 U4 IP1.docx - Hypothesis Testing Variance Crystal Rueda American Intercontinental University BUSN311 \u2013 Quantitative Methods and Analysis 1

# BUSN311 U4 IP1.docx - Hypothesis Testing Variance Crystal...

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Hypothesis Testing & Variance Crystal Rueda American Intercontinental University BUSN311 – Quantitative Methods and Analysis 02/14/2020 1
Hypothesis Testing & Variance Abstract In this paper, I will discuss the hypothetical Chi-square hypothesis for one company and go into detail about the story the results tell. In the business world, hypothesis testing is extremely important. It involves data collection which is a good way for companies to track their progress but also puts the data collections to use by hypothesizing possible outcomes for the future. Through hypothesis testing, managers and executives can create a realistic vision for the company and make educated decisions based on findings. 2
Hypothesis Testing & Variance Introduction Hypothesis testing uses sample statistics to test a subject around a data parameter. For example, your company wants to increase sales by funding a new marketing drive. It uses the operation in one region of the country to test the effects and begins collecting data to see whether the operation has had its anticipated effect. Once the company has determined the operation a success, it will start a national campaign but to be a success it must have resulted in an increase by more than 25%. (Mohan, 2016).

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• Spring '11
• SMITH
• Null hypothesis, Type I and type II errors

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