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
orchestra answered 2 years agoRelated 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...
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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.
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