Business Statistics

308 Business Statistics

10.1 INTRODUCTION

In Chapter 9, we have discussed how a sample can be used to develop point and interval estimates for

assessing the population parameter. As discussed earlier, statistical inference is based on estimation

and hypothesis testing. In this chapter, we will continue the discussion of statistical inference in terms

of hypothesis testing. Hypothesis testing is the soul of inferential statistics and is a very important tool,

which can be used by a business researcher to arrive at a meaningful conclusion. The main objective of

this chapter is to discuss how hypothesis testing can be conducted around population ...