Answer each question with a word count of 175 words each
Discuss your takeaways, questions, insights on the following:
1. Null and Alternate hypothesis – The importance of stating the null and alternative hypotheses before conducting the test.
. Level of significance, also referred to as alpha.
. One or Two tailed test – The difference between a one tail and a two tailed test.
. Rejection Region.
. Critical value.
. Type 1 Error. – The importance of a type one error (p) in conducting the test
. Type 2 Error.
2.The common method to decide when to reject the null hypothesis is to compare the observed significance level (the p-value) with the research design significance level (the alpha). The p-value is therefore also referred to as the observed level of significance.
Explore the use of the NORM.S.DIST Excel function to find p-values. For example, for a 1 tail test, using the left tail, find the p-value corresponding to an observed z value of 2.05? Is your p-value 2%? If the alpha is 5% what can you infer regarding the null hypothesis?
Post your examples of null and alternate hypotheses and conditions under which the null hypothesis is rejected.
3. what is the difference between a hypothesis and an alternative hypothesis. Give an example.