Question

In: Statistics and Probability

An important part of using statistics is being able to explain your results to decision makers.

 

An important part of using statistics is being able to explain your results to decision makers. Imagine that you have conducted a two-sample test and determined that the difference was not statistically significant.   While one mean was 4.3 and the other was 3.9, the p level for the t test was p=.07. Your management team says, “Well, the difference may not be statistically significant, but the difference is there! Discuss how you would respond and how you would explain the purpose of the t test and significance in this case.

Solutions

Expert Solution

orchestra answered 1 year ago
Next > < Previous

Related Solutions

An important part of using statistics is being able to explain your results to decision makers....
An important part of using statistics is being able to explain your results to decision makers. Imagine that you have conducted a two-sample test and determined that the difference was not statistically significant.   While one mean was 4.3 and the other was 3.9, the p level for the t test was p=.07. Your management team says, “Well, the difference may not be statistically significant, but the difference is there! Discuss how you would respond and how you would explain the purpose...
Defined marketing research and explain it's important to marketing decision-makers?
Defined marketing research and explain it's important to marketing decision-makers?
What are the differences between tangible and intangible resources, Why is it important for decision makers...
What are the differences between tangible and intangible resources, Why is it important for decision makers to understand these differences? Are tangible resources more valuable for creating capabilities than are intangible resources, or is the reverse true? Why?
What are the differences between tangible and intangible resources? Why is it important for decision makers...
What are the differences between tangible and intangible resources? Why is it important for decision makers to understand these differences?
What are the differences between tangible and intangible resources? Why is it important for decision makers...
What are the differences between tangible and intangible resources? Why is it important for decision makers to understand these differences?
Elementary statistics – Final assignment – Part two NOTE : Don’t use p-value for your decision...
Elementary statistics – Final assignment – Part two NOTE : Don’t use p-value for your decision in hypothesis testing problem Q2: a) You are interested in the average emergency room (ER) wait time at your local hospital. You take a random sample of 50 patients who visit the ER over the past week. From this sample, the mean wait time was 30 minutes and the standard deviation was 20 minutes. Find a 95% confidence interval for the average ER wait...
Why is it important to have an elevator pitch, or in other words, being able to...
Why is it important to have an elevator pitch, or in other words, being able to quickly summarize what you do or your team does for your organization? Linking back to the greater organizational strategy from what you do in your role?
As part of financial planning for an organization, being able to determine the amount of Additional...
As part of financial planning for an organization, being able to determine the amount of Additional Funds Needed (AFN) by an organization to achieve its growth goals is an important part of this financial forecasting. Please explain what we mean by AFN, the sources of funds, and how an organization goes about determining its AFN.
As part of financial planning for an organization, being able to determine the amount of Additional...
As part of financial planning for an organization, being able to determine the amount of Additional Funds Needed (AFN) by an organization to achieve its growth goals is an important part of this financial forecasting. Please explain what we mean by AFN, the sources of funds, and how an organization goes about determining its AFN.
do you agree with your results? explain. which of these styles is most important in your...
do you agree with your results? explain. which of these styles is most important in your role as a student ?( analytical, conceptual, directive, behavioral). Based on your answer to question2, what might you do to modify your decision making style? My result is Directive style. I need 300 words.
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT