How can the significance level be selected

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1). How can the significance level be selected?

2). How can one get the test statistic and calculate its value?

3). How can one identify critical values for a test statistic and how can one state the decision rule concerning when to reject or fail to reject the null hypothesis?

4). How does one reach a conclusion to accept or reject the null hypothesis?

5) What decisions could managers make using statistical findings?

Please include some relevant references. Thank you

Reference no: EM133138404

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