BUS 308 Week 2 Assignment and Discussions (Latest 2016 Data)

Week2 D1

What is a hypothesis test?  Why do we need to use them to make decisions about relating sample results to the population; why can’t we just make our decisions by the sample value?

Week2 D2

Variation exists in virtually all parts of our lives. We often see variation in results in what we spend (utility costs each month, food costs, business supplies, etc.).  Consider the measures and data you use (in either your personal or job activities). When are differences (between one time period and another, between different production lines, etc.) between average or actual results important?  How can you or your department decide whether or not the observed differences over time are important?  How could using a mean difference test help?