Homework Assignment Number 7 Due Friday by 5pm Points Submitting on paper Availa
ID: 2930489 • Letter: H
Question
Homework Assignment Number 7 Due Friday by 5pm Points Submitting on paper Available Oct 18 at 10am-Dec 15 at 5pm about 2 months Stat 2070 -Assignment 7- Due Friday October 20 Use the following scenario for problems 1 through 9. I was asked by the Better Business project for them (fictitious project). They want to be able to predict if the legislature will pass a small business recovery plan in 2017. They are willing to assume that a small business recovery plan will not be passed unless it can be demonstrated that a small business through 9 with the letters 'A" through 1. Each letter is to be used once and only once. Hint: the Decision Table and corresponding discussion on pages 188 to 190 of the "CD' should help.J Bureau to conduct a recovery plan will be passed. Match the problems 1 1. What is the null hypothesis? 2. What is the alternative hypothesis? 3. What is the type I error? 4. What is the type II error? 5. What does "significant mean? 6. What is the critical value (Cv)? 7. What is the test statistic (TS)? 8. What is alpha? 9. What is the power? A. Making the conclusion that a small business recovery plan will be passed by the legislature. B. Making the conclusion that a small business recovery plan will be passed, when in fact it won'.. C. Making the conclusion that a small business recovery plan will not be passed, when in fact it will. D. The amount of evidence in my study indicating that a small business recovery plan will be passed. E. The minimum amount of evidence needed to decide that a small business recovery plan will be passed. F. A small business recovery plan will be passed. G. A small business recovery plan will not be passed. H. The probability of concluding that a small business recovery plan will be passed, when in fact it willExplanation / Answer
Answer
1)Null Hypothesis: -A small business recovery plan will be passed(F)
2) Alternate Hypothesis: -A small business recovery plan will not be passed(G)
3)Type 1 error:- is rejecting the null when it is true Hence, Making the conclusion that a small business recovery plan will not be passed, when in fact it will(C)
4) Type 2 error:- is failing to reject the null when it is false. Hence, Making the conclusion that a small business recovery plan will be passed, when in fact it wont(B)
5)Significant:- Making a conclusion that a small business recovery plan will be passed by the legislature(A)
6)Critical value(CV):-is a value compared with test statistic to decide whether to accept or reject null hypothesis. Hence, the minimum amount of evidence needed to decide that a small business recovery plan will be passed(E)
7)Test Statistic(TS):- is called the calculated value from hypothesis test. Hence, the amount of evidence in my study indicating that a small business recovery plan will be passed(D)
8)Alpha:- The probability of committing a Type I error is called the Alpha. Hence, the probability of concluding that a small business recovery plan will not be passed, when in fact it will(H)
9)Power:- the probability of concluding that a small business recovery plan will not be passed, when in fact it wont(I)
Use the similar logic to solve through 10 to 16
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