Confidence intervals and hypothesis testing

Reference no: EM13109662

1. What is the importance of the null hypothesis? Why has it been the backbone of mainstream hypothesis testing for decades? What are its limitations?

2. What is the value of performing hypotheses tests to solve problems related to business and operations management? Provide specific examples.

3. What is the relationship between confidence intervals and hypothesis testing? How are they the same? How are they different?

4. What is the purpose of using nonparametric tests in operations management decisions? Provide examples of what you look for when conducting these tests.

5. Describe a business situation where you would you use a one- or two-sample hypothesis test?

Reference no: EM13109662

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