Translate the verbal statements into a system of linear equations: Fatima invested a total of $1000 in two simple-interest bank
1 answer:
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Answer with Step-by-step explanation:
Since we have given that
Average per week in sales = $8000
Steve hopes that the results of a trial selling period will enable him to conclude that the compensation plan increase the average sales per salesperson
So, the appropriate null and alternate hypothesis would be
b. What is the Type I error in this situation? What are the consequences of making this error?
Type 1 error are those errors in which null hypothesis are supposed to be rejected, but it does not get rejected.
It means sales per week is greater than $8000 but in actual it is not.
c. What is the Type II error in this situation? What are the consequences of making this error?
Type 2 are error are those errors in which null hypothesis are supposed to be accepted but it get rejected.
It means average sales per week is actually $8000 but it is calculated that average sales is less than $8000.