Applied Business Research & Statistics. Case Study Election Case and SpeedX

Case Study – Election Case and SpeedX
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November 21, 2019
Statistics is an indispensable tool in the understanding of probability. It allows the researcher to be able to predict, with a reasonable degree of accuracy, the outcome of events solely based from data that are obtained over a long period of time. In this article, this importance of statistics would be illustrated through an analysis of an election result and the efficiency of a payment system of a company. On the one hand, the case on the election result, necessitates an understanding of the probability of knowing in advance, the winner in for important government offices in the country. On the other hand, the case on the efficiency of payment focuses on knowing whether the use of stamped self-addressed envelopes would indeed increase efficiency or not. The succeeding sections of this paper would focus on the statistical computation of both cases. All in all, the author believes that a deeper understanding of the applications of statistics would prove its beneficiality in a variety of daily problems like this.
Case 1 - Election Results
In this particular case, statistics was used through a one-sample hypothesis that allows the researcher to reject the null hypothesis that less than 50% has voted for George Bush CITATION Stand1 \l 1033 (StatisticsSolutions.com, n.d.). Specifically, the null and alternative hypothesis are as follows:
* Null hypothesis (H0): p ≤ 0.50
* Alternative Hypothesis (H1): p > 0.50
Based from the facts and information provided, it could be seen that the use of a right tailed test would be the best method to use. In turn, the Z test statistic would be the reference for determining the region of rejection. The following shows the values based from the Z-test table.
Accordingly, the formula bel...