I am majoring in aviation management taking a research class. I got an assignmen

Question

I am majoring in aviation management taking a research class.
I got an assignment regard to the statistical hypothesis this week.
I have to write a null and alternate hypothesis for a research problem I am interested in.
My research subject is, "high oil price and its effects on the revenue of the commercial airline industry."
My assumption is "high oil price will decrease the revenue."

1. In this case, what are the null hypothesis and alternate hypothesis?
2. How is the probability (p-values) used in statistical analysis in general and in this case?

Explanation / Answer

Null hypothesis: high oil price will decrease or remain same

Alternative hypothesis: high oil price will increase

After conducting the test, if the p-value is lower than the level of significance, the null hypothesis is rejected, otherwise it is not rejected.

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