Jacek Wallusch _________________________________ Statistics for International Business Lecture 10: Hypothesis Testing: Some Hints.

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Jacek Wallusch _________________________________ Statistics for International Business Lecture 10: Hypothesis Testing: Some Hints

Getting Started ____________________________________________________________________________________________ Statistics: 10 Test statistic calculator GRETL

Null Hypothesis ____________________________________________________________________________________________ Statistics: 10 examples Equalities and inequalities, two tails or one tail? Single average: [1] Is the actual average sales volume equal to the planned one? [2] Is the average price higher than the cost? [3] Is the average number of complaints smaller than the number of complaint a year ago? Two averages: [1] Is the average sales volume for medium offer larger than the average sales volume for premium offer? [2] Is the average profit-per-employee in Swindon equal to the one in Slough? [3] Is the average salary of female employee smaller than the average male salary?

Two Averages ____________________________________________________________________________________________ Statistics: 10 Washington Redskins nullifying a hypothesis again Problem: Defence wins championships, Offence sells tickets, but who gets better paid? Solution: [1] formulate the null hypotheses (two-tailed & one-tailed) [2] perform the test [3] interpret the p-value [4] what’s more important to Mr. Snyder, winning championships or selling tickets?

Two Averages ____________________________________________________________________________________________ Statistics: 10 Wernham Hogg Co. Problem: The Data Support Department of Wernham Hogg Co. tests whether the mean profit per employee in two branches is equal. One of the branches will be downsized if the test indicates a considerable difference. The estimated p-value for the null hypothesis of equal mean values is equal to What should the board of Wernham Hogg Co. decide? A. one of the branches should be downsized as the test indicates significant difference between the mean values; B. one of the branches should be downsized as the test indicates no difference in mean values; C. none of them should be downsized as the test does not indicate significant difference in mean values; D. none of them should be downsized as the test indicates a significant difference in mean values;