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Flura [38]
3 years ago
9

Describe a problem you face in your everyday life or at work. How might you use hypothesis testing to find a solution or improve

ment to that problem? Would you conduct a one-sample or two-sample test? What would be your null and alternative hypotheses?
Business
1 answer:
ololo11 [35]3 years ago
6 0

Answer:

The common problem i encounter mostly is the statistical modelling problem.

In this scenario we choose best combination of independent variables for the hypothesis testing. the independent variable shows the significant effect on dependent variable so we keep it in modelling.

My null hypothesis would be that there is no significant effect of independent variable on dependent variable.  for my alternative hypothesis there exist is significant effect of independent variable on dependent variable.

Explanation:

The common problem I face daily is the statistical modelling problem which is the selection of relevant independent variable for prediction modelling.

In this example to select the best combination of independent variables we use hypothesis testing. if the independent variable has significant effect on dependent variable then the independent variable shows the significant effect on dependent variable so we keep it in modelling. In this way the model gets improved.

Since there are always two variables or two categories. hence it has a two sample test.

The Hypothesis can be shown below:

Null hypothesis:

H0: There is no significant effect of independent variable on dependent variable.

Alternative hypothesis:

Ha: There is significant effect of independent variable on dependent variable.

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Merle Corporation applies manufacturing overhead to products on the basis of standard machine-hours. For the most recent month,
bixtya [17]

Answer: $721 Unfavorable

Explanation:

The following can be deduced from the question:

Actual hours = 3690 hours

Standard hours = 3620 hours

Standard rate per hour = ($14000 + $27200) / 4000

= $41200 / 4000

= $10.30 per hour

Therefore, the overall variable overhead efficiency variance for the month is calculated as:

= (Actual Hours - Standard Hours) × Standard rate per hour

= (3690 - 3620) × $10.30

= 70 × $10.30

= $721 Unfavorable

3 0
3 years ago
Homer Corp. is considering the purchase of a new piece of equipment. The cost savings from the equipment would result in an annu
kotegsom [21]

Answer:

$165,000

Explanation:

The computation of the annual net cash flow is shown below:

But before that first we have to find the depreciation expense which is

= (Initial cost - Salvage Value) ÷  estimated life

= ($400,000 - $75,000) ÷ 5 years

= $65,000

Now the annual net cash flow is

= Depreciation expense + Net Income

= $65,000 + $100,000

= $165,000

We simply added the depreciation expense and the net income so that the annual net cash flow could come

4 0
3 years ago
Timothy was driving his friend Nick to football practice. While driving, he was hit by a driver who had coverage of 100/300/50.
Art [367]

Answer:

A) The policy would provide a maximum of $100,000 for each person who was injured, and no more than $300,000 for total injuries of all parties in the accident.

Explanation:

The auto liability insurance policy held by the driver is an example of a split limit liability insurance. The split limit insurance of 100/300/50 is explained thus:

$100,000 - bodily injury liability insurance per person

$300,000 - Total bodily injury liability insurance per accident

$50,000 - Property damage liability per accident.

6 0
3 years ago
The following table reports real income per person for several different economies in the years 1960 and 2010. It also gives eac
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Answer:

Thailand

Ireland

c

Explanation:

Thailand  has the highest annual growth rate so it is fastest economy to grow in rela income per person form 1960 to 2010 that is 4.91%

Irleand has the highest real income per person in year 2010 that is $41,558

Ireland, Pakistan and Thailand had lower real income per person than Finland in 1960 but only Ireland had higher real income per person than Finland in 2010.

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3 years ago
A blue ocean strategy differs from a low-cost strategy in that
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The focus of a blue ocean strategy is on lowering the economic value created, whereas a cost-leader focuses on increasing the economic value created.
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2 years ago
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