How can management help employees understand what analytics are important to monitor on a regular basis and what analytics could fluctuate as the business cycle runs its course?
Write your responses in detail with examples. Be sure to identify the source of your example in your posting. Your initial post should be of minimum 250 words.
Assignment 2
Hypothesis Testing
The manager of a large manufacturing firm is considering switching to new and expensive software that promises to reduce its assembly costs. Before purchasing the software, the manager wants to conduct a hypothesis test to determine if the new software does reduce its assembly costs.
Would the manager of the manufacturing firm be more concerned about a Type I error or a Type II error? Explain.
Would the software company be more concerned about a Type I error or a Type II error? Explain.
Write your responses in detail with examples. Be sure to identify the source of your example in your posting. Your initial post should be of minimum 250 words.
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