Please follow the instructions in the attached instructions doc. I also attached the other docs referenced in the instructions. there should be a total of 5 attachments. they should help you understand the assignment better. though, the instructions says you don't need to show the formula/calculations, please show it in a separate document so i can see what you did. I'm no expert, so please don't make it to complex.
Public Question 5 Rules for this assignment: 1. Do not use a monetary example like I did ($, euros, etc.). Use your creativity and come up with a different non-monetary variable. 2. Look at what has been posted and use a different variable. Good reason why post earlier than later. Your variable must be a continuous quantitative (not qualitative, categorical, etc., u not p). If you can count it and not measure it then don't select that variable. If you have any doubts email me. If your variable is in percentages then you have not picked a quantitative variable. a. Yours should be based on Section 7.1: Basics of Hypothesis Testing b. Do NOT base your example on: Section 7.2: One-Sample Proportion Test 3. When you list your numbers, they also should list what unit it refers to. For example, not 3.17 or 5233 but 3.17z and 5233 pounds. 4. Before submitting, use the grading rubric I provided. Goal of this assignment: You need to have a clear understanding of the basic steps and terminology for hypothesis testing beyond the number crunching. This assignment will give you an idea of how we would do “testing” in the real world. At the end of this assignment, I hope you will have achieved the goal of having a basic understanding of the hypothesis process and a basic understanding of alpha, “test statistic”, p values, and the purpose of hypothesis testing. I hope this will help you with Exercise 2. Summary of assignment Post in this topic ONE realistic and non-frivolous management example of just one type of hypothesis using the population mean: either 1 tail upper or lower. Your variable must be quantitative, not qualitative so this means u, not p which would be percentages and proportions. Only use quantitative data. You do not need to do any calculations or list any formulas. Justify why “your testing” of this hypothesis would be worth testing so stay away from frivolous examples or population sizes of less than 500 (N>500). I recommend you pretend the sample be about 50(n=50). Include your sampling methodology and management decision you will make if you can accept Ha (see the paragraph above Item 1). The instructions below are probably longer than what you need to write and should most likely be one page or less. I will provide one example but only use it as a guide and don’t just copy my example and change a few words. I do not expect you to write a lot. Keep it as short as possible. I am interested in you showing me you understand the process and can communicate basic results to others. Please use this format below and label Parts 1 through 4. Use the following format and be sure to label the parts the same way I did so it can facilitate grading and discussion: Part 1a Part 1b Part 1c Part 1d Etc Assignment Instructions PRIOR TO YOU PRETENDING TO DRAW A SAMPLE: General Instructions for Parts 1a to 1g, Preparation: Briefly explain the important problem/issue you would test for (makeup numbers). At this time, you have not collected any data in your pretend scenario. What is the problem you want answered? Identify the QUANTITATIVE variable you will collect in your sample to answer your question? You will most likely pretend to do a survey but only tell me about the one question that will give you data for the variable. State what course of action your management team will make if Ho is rejected. Part 1a (problem, issue, or some opportunity in a couple of complete sentences): Part 1b: (Based on the above what is the question you want answered and how does it tie into the decision you want to make?) Part 1c: (What is your quantitative variable and unit (not percentages) you will measure and should be tied to 1b?) Part 1d: (What will be your course of action if Ho is rejected or not rejected. Use complete sentences). Part 1e: (List your numeric hypotheses (Ho and Ha) and be sure to use the proper format and include the units in your two hypotheses. Remember your variable is quantitative and therefore no percentages or proportions.) Part 1f: (List your descriptive hypotheses (Ho and Ha). The reader should be able to understand the basics of what you are testing by reading the narrative/descriptive statements so be clear). General Instructions for Parts 2a to 2d] Sampling: explain exactly what the population of interest and the basic procedures is you will take to select a sample from the population. Don't be vague, describe the mechanics of selecting the data and the sample size (n) and this can be done in a few sentences. You cannot be vague because the reader needs to have a clear understanding of your methodology so could theoretically rerun your hypothesis test. Before you pretend to take a sample state the rejection value for alpha at .05 or the rejection value for .1, .05, or what alpha you will use based on the amount of risk you are willing to take. So the alpha criteria will have an associated z or t value (t for n 30 or less). Once the sample is drawn you will compare this z or t value associated with an alpha level (like .05) with your test statistic. If you are taking a survey only tell me the question you will be used to measure the variable of interest. Don't tell me about the other questions, just one! Also, try to have a simple random methodology...make it easy on yourself! Part 2a (What is your population of interest. It should be at least N=500 or no need to take a sample, n)? Part 2b: How will you draw the sample to ensure it is a random sample? Be specific enough so someone would know how to draw the same sample. A common problem students have is selecting a sample that is not random): Part 2c (sample size): n= Part 2d: What is your z value for alpha level (.05, .01, etc)? In other words at whatever alpha level (.05,.01.etc) what is the associated z or t or t value? If you have not gotten the z or t value from a table or software then you are doing 2d wrong. Also, explain why you used to or z (based on textbook and instructor). Part 2e: Based on 2c above, in one sentence what will be your rejection rule you will use to evaluate the “test statistic” you get from your actual data?) NOW PRETEND YOU HAVE DRAWN THE SAMPLE. General Instructions for Parts 3a to 3e) After you’ve drawn the sample, your evaluation. Pretend you now have the sample; State the test statistic (make it up but be consistent) and compare to your alpha value you have for 2c and tell the reader if you reject or fail to reject Ho. Be sure to use the words, "fail to reject" or reject Ho and one sentence of the management/research action you will take. You will also make up a p value and again show why you would reject or fail to reject Ho. Most importantly, tell us your management course of action (COA). Part 3a (What is your test statistic which should be a z or t value? You make this up for this assignment but should be consistent). You will have something like 3.45z or maybe 9.21t but make it look credible based on your specific scenario. What is your sample mean value? Part 3b (What is your made-up p value? It should be consistent with your computed test statistic) Part 3c (Write: Compare your alpha value to the test statistic value and tell the reader if you reject or fail to reject Ho. Do use this terminology such as test statistic. Part 3d (Write: Compare your alpha level (i.e. .01, .05, etc not the actual z or t values) to the p value you computed (pretended) and tell the reader if you reject or fail to reject Ho. Do use this terminology such as p value. Part 3e (Based on 3c and d what is your recommended course of action for management or researchers? Make this no more than a couple of sentences): END OF ASSIGNMENT. Grading Rubric: how creative and relevant your test would be in the real world? Originality? Did you come up with your scenario related to your profession or interest? Did you come up with your idea and avoided just a “willing to pay” example like the one I gave you? How original and relevant is your example? Your description should be a credible business or research scenario (no more than one paragraph) and that it would be worthwhile if we paid you to do this. Use your imagination and come up with a made-up decision that you need to make to help solve an important problem or take advantage of an opportunity. First, you must tell me and the class, what is your population of interest (N), and very briefly your sampling methodology (random? or other variation, how you would select from the population, survey, and sample size, n). Tell me what management decision you will if you can reject Ho and accept Ha. If you do a survey don't tell me all the questions you are going to ask but just the ONE you will use to measure the variable of interest. This information can be provided in one short paragraph. Just give me the basics and "paint a picture" so we can visualize your actual steps to, really, do this if this was for real. Please do not reference the Internet or go into a long management scenario like I did in my example but a short explanation of what you want to accomplish. Finally, is your writing clear and to the point without leaving out important information or data? 215 Chapter 7: One-Sample Inference Now that you have all this information about descriptive statistics and probabilities, it is time to start inferential statistics. There are two branches of inferential statistics: hypothesis testing and confidence intervals. Hypothesis Testing: making a decision about a parameter(s) based on a statistic(s). Confidence Interval: estimating a parameter(s) based on a statistic(s). Section 7.1: Basics of Hypothesis Testing To understand the process of a hypothesis tests, you need to first have an understanding of what a hypothesis is, which is an educated guess about a parameter. Once you have the hypothesis, you collect data and use the data to make a determination to see if there is enough evidence to show that the hypothesis is true. However, in hypothesis testing you actually assume something else is true, and then you look at your data to see how likely it is to get an event that your data demonstrates with that assumption. If the event is very unusual, then you might think that your assumption is actually false. If you are able