MGM330-0704A-04 Business Decision-Making - Phase 3 Discussion Board Essay

MGM330-0704A-04 Business Decision-Making - Phase 3 raillery Board - Essay ExampleHypothesis testing is a statistical method can be utilized in a variety of applications. The method basically allows a researcher to make a claim about a particular population (data) called the null dead reckoning which is then tested by this method to determine if the claim was true or false (Levine & Stephan & Krehbel & Berenson, 2006, p.332). The test works by providing a null possibility and an alternative hypothesis. If the null hypothesis is either accepted or rejected. If the null hypothesis is rejected that means there is sufficient evidence to validate the alternative hypothesis is true. The normal wind and its corresponding normal distribution table which is associated with Z values is an important multivariate in the address of a hypothesis test. Hypothesis testing follow a particular algorithm or mathematical function that must be perform e truly time the test is perform. The secernat e steps of a hypothesis test areAnother powerful and very useful statistical method is regression toward the mean analysis. The regression analysis method is a predictive model that allows the statistician to determine the values of a variable within an equation based on the given data about the other variable. This method has very valuable application for forecasting. A common technique of this model is simple regression which can be applied utilizing the least square approach. This approach uses the formula Y = aX + b (McClave & Benson & Sinich, 2001, p.460). The two key variables are called the dependent and the independent variables. An example of an application of this model is a production problem. A come with can used this equation to predict many sales it can generate in the prospective based on past sales totals of the past years. Software such as Microsoft Excel, Minitab or vivid calculators such as the Ti-89 Titanium created by Texas Instrument can be utilized to perf orm unidimensional regression analysis. There is another type of regression analysis called multiple