Deliverable Length: 1,500–2,100 words
Explain the applications and limitations of statistical hypothesis testing as applied to business situations.
Based upon the input from Units 1 and 2, you have just received
your next assignment that will contribute to your next decision.
For the outdoor sporting goods client, based upon your prior
decision as to either expand to the next market or retain your
current position, justify your decision further utilizing the
Chi-Square Distribution tool. One key criterion point: You do not
have adequate data to formulate a full Chi-Square for the outdoor
sporting goods client. However, you do have sufficient data to
initiate this process. You are charged to demonstrate the initial
steps of a nonparametric test that are qualitative. Utilizing the
null and alternative hypothesis, further present your
justifications for your selection and what it means beyond the mere
formulas. What is this going to tell the Board of Directors and
contribute to the decision-making process?
The following information may be helpful in understanding Chi-Square and hypothesis testing:
Chi-Square and Hypothesis Testing
Please review this helpful video . The presenter uses the "flip of the coin" and the "role of the die." These are examples and analogies used in the CTU resources.
The following are assumptions you might make in this assignment that might make the assignment more helpful and make the responses more uniform:
- Continue to utilize the Big D scenario. Work under the assumption that the sample is based upon two different proposed product lines.
- Additionally, work under the assumption that the same demographics are utilized for each product.
Bozeman Science. (2011, November 13). Chi-squared test[Video file]. Retrieved from https://www.youtube.com/watch?v=WXPBoFDqNVk
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