# B should the writer conclude that the housing market

• 7
• 100% (7) 7 out of 7 people found this document helpful

This preview shows page 3 - 6 out of 7 pages.

##### We have textbook solutions for you!
The document you are viewing contains questions related to this textbook.
The document you are viewing contains questions related to this textbook.
Chapter 7 / Exercise C.6
Business Analytics: Data Analysis & Decision Making
Albright/Winston
Expert Verified
B.Should the writer conclude that the housing market is declining based upon this data? (2 pts)
##### We have textbook solutions for you!
The document you are viewing contains questions related to this textbook.
The document you are viewing contains questions related to this textbook.
Chapter 7 / Exercise C.6
Business Analytics: Data Analysis & Decision Making
Albright/Winston
Expert Verified
C.Why or why not? (2 pts)
9.A homeowner is getting carpet installed. The installer is charging her for 250 square feet. She thinks this is more than the actual space being carpeted. She asks a second installerto measure the space to confirm her doubt. Write the null hypothesis Ho and the alternative hypothesis Ha. (2 pts)
10.Drug A is the usual treatment for depression in graduate students. Pfizer has a new drug, Drug B, that it thinks may be more effective. You have been hired to design the test program. As part of your project briefing, you decide to explain the logic of statistical testing to the people who are going to be working for you.A.Write the research hypothesis and the null hypothesis. (2 pts)
B.Then construct a table like the one below, displaying the outcomes that would constitute Type I and Type II error. (2 pts)
Decision The True Statement H0: is true Drug B is not more effective than Drug A Ha: is true Drug B is more effective than Drug A H0: is true Deciding to see if the new drug is more effective (or less) than drug ANo Error Type II error Decide that Drug B is not more effective; but really isHa: Is true Deciding if the Drug B is more effective than Drug AType I Error Decide the Drug B is moreeffective but it really is notNo Error Consequences Drug users might experience undesirable side effects if Drug B is less effective.Drug users would lose the chance to use a more effective drug C.Write a paragraph explaining which error would be more severe, and why. (2 pts)