Speeds payment times. Business & Marketing Coursework (Coursework Sample)
Develop a 700- to 1,050-word statistical analysis based on the Case Study Scenarios and SpeedX Payment Times.
Include answers to the following:
Case 1: Election Results
Use 0.10 as the significance level (α).
Conduct a one-sample hypothesis test to determine if the networks should announce at 8:01 P.M. the Republican candidate George W. Bush will win the state.
Case 2: SpeedX
Use 0.10 and the significance level (α).
Conduct a one-sample hypothesis test and determine if you can convince the CFO to conclude the plan will be profitable.
Holmes, Illowsky & Dean (2017) assert that a hypothesis test is a test that involves collecting and analyzing data from a sample. Through the hypothesis, a statistician can be able to make a decision based on the analysis of data. An individual can also choose to reject the null hypothesis after analyzing data. When testing hypothesis an individual should state the null hypothesis, stage alternative hypothesis, ascertain the significance level, compute the P-value, and then make a conclusion.
Today managers use hypothesis testing to made management decisions (Sharma, 2013). Hypothesis testing lies in the concept of inferential statistics and it is used to prove various claims. The purpose of this report is to illustrate how statistical analysis can be used to forecast the winner of an election in the first case. In the second case, a hypothesis will be conducted to decide whether the shipping plan will be lucrative or not
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