Solution-Explain the difference between a one- and a

Explain the difference between a one- and a two-tail test

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1) When our test statistic does NOT fall into the critical region, why do we say that we "Fail to reject the Ho" rather than just saying we accept the Ho?

2) Explain the difference between a one- and a two-tail test. When is each used?

3) What is a "P" value and why do we need it? (Hint: What does it give us in addition to our alpha?)

4) Did we show beyond a reasonable doubt that Dusty was not telling the truth?

5) Why do statisticians shudder at the word "prove" and use words like support, accept the H1, reject the Ho, etc.?

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The assignment was solved using basic knowledge of statistics and econometrics. Conceptual knowledge of the basic topics of p-value, significance level, hypothesis testing, types of alternate testing are used. The application of how the theoretical concepts can be practically used was empirical in solving the assignment.

Reference no: EM131673540

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Explain the difference between a one- and a two-tail test

Reference no: EM131673540

Reference no: EM131673540

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