MBA 6018 Unit 3 Assignment 1
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6018 Unit 3A1
UNIT 3 Content
In this unit, you will examine how managers use hypothesis testing and statistical techniques to evaluate the likelihood of an assertion. Hypothesis testing is at the core of inferential statistics. It is the foundation of the inferential statistics used to help managers make better decisions. A typical managerial decision using hypothesis testing would be to compare samples of purchased products, to ensure they conform to firm quality standards. In fact, sampling itself is a particularly useful data analysis technique. Malls and stores often sample prospective customers. So do retail fast food franchises—take a look at the bottom of your receipts the next time you purchase something.
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The following optional resources are provided to support you in completing each assessment. They provide helpful information about the topics in this unit. For additional resources, refer to the Research Resources and Supplemental Resources in the left navigation menu of your courseroom.
Textbook:You may wish to refer to the How Do I Find Books? library guide to explore options for acquiring this resource free of charge, or you may wish to purchase it from your preferred retailer.
- Capella University (Eds.). (2011). MBA6018 – Data analysis for business decisions [Custom textbook]. New York, NY: McGraw-Hill. ISBN: 9780697804624.
- Note:This custom textbook is available for purchase from the Capella University Bookstore. It contains a selection of readings originally published by McGraw-Hill in other contexts.
Course Library Guide
A Capella University library guide has been created specifically for your use in this course. You are encouraged to refer to the resources in the MBA-FP6018 – Data Analysis for Business Decisions Library Guide to help direct your research.
Questions to Consider
As you complete the assessment work in this unit, you may find it helpful to consider the questions below. You are encouraged to discuss them with a fellow learner, a work associate, an interested friend, or a member of the business community, in order to deepen your understanding of the topics.
- Why is it important that a sample be random?
- For its validity, all hypothesis testing depends heavily on the assumption that the sample that is used was drawn using probability sampling techniques. Why is this important?
- What can you do if you just cannot use a probability sampling technique? (For example, suppose there is no good sampling frame available for the population of interest.)
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[u03a1] Hypothesis Testing 1 Assessment Description
By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment criteria:
- Competency 3: Analyze business decision opportunities using basic inferential statistics.
- Determine the null hypothesis and alternative hypothesis for making decisions regarding product pricing.
- Compute the appropriate statistical test to determine acceptance or rejection of a null hypothesis.
- Competency 5: Integrate data analysis into general business management planning and decision-making.
- Compute the p-value to indicate acceptance or rejection of a null hypothesis regarding average customer spending.
- Competency 6: Communicate in a manner that is professional and consistent with expectations for members of the business professions.
- Communicate in a manner that is professional and consistent with expectations for members of the business professions.
This assessment will allow you to demonstrate practical application of hypothesis testing to making business decisions in a given scenario. Use the Hypothesis Tester – Single Sample file, linked in the Assessment Resources, to complete the calculations for this scenario. You may also refer to the Hypothesis Tester media piece in your Unit Resources to review the process for computing this equation.