Discussion:
1. What is the purpose of a Hypothesis Statement?
2. Null Hypothesis = H0 or H1 (circle one)
Alternate Hypothesis = H0 or H1 (circle one)
3. What does ∑ mean and do?
4. Explain Alpha.
5. Are the Null and Alternate Hypothesis mutually exclusive? Y / N (circle one)
6. What are the generally accepted levels of significance for each of the following?
Scientific Research -
Political Polling -
Consumer/Product Research -
7. What role do ethics play in significance levels?
8. Formulate a Null and Alternate Hypothesis Statement for testing (sampling) 5 oz glue sticks from a glue stick factory. (To see if they have the correct amount of glue).
9. Explain the difference, if any, between a 1-tailed test and a 2-tailed test.
10. What is the cut-off point between a small sample size and a large sample size?
11. Explain the term "Sample".
12. Explain the term "Population".
13. Explain the term "Random".
14. Why do researchers sample? (3 primary reasons)
15. Explain the term "Variance".
16. Explain the term "ANOVA".
17. Explain the term "n".
18. What are the characteristics of a "good' sample?
19. What is the primary purpose of Regression Analysis?
20. Explain "Correlation" vs. "Causation".
21. Explain the term "Extrapolation".
22. Explain the term "Interpolation".
23. What is a moving average?
24. Explain forecasting.
25. List 3 uses for forecasting.