Business Statistics

Chapter 10

Statistical Inference: Hypothesis Testing for Single Populations

When in doubt use a bigger hammer

 

– Thomas L. Martin Jr.

LEARNING OBJECTIVES

Upon completion of this chapter, students will be able to:

• Understand hypothesis-testing procedure using one-tailed and two-tailed tests
• Understand the concepts of Type I and Type II errors in hypothesis testing
• Understand the concept of hypothesis testing for a single population using the z statistic
• Understand the concepts of p-value approach and critical value approach for hypothesis testing
• Understand the concept of hypothesis testing for a single population using the t statistic
• Understand the procedure of hypothesis testing for population proportion

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