QNT351 Week 4 DQ 1

Week 4, DQ 1

What is the five-step process for hypothesis testing? Is the order important? Explain why or why not. Why do alphas differ among industries? How do ethics affect your chosen level of significance? Can you reject and accept the null hypothesis at the same time? Explain why or why not.


RESPONSE

Lind, Marchal, & Wathen (2011) define the five-step hypothesis testing as;
- State null and alternate hypothesis
- Select a level of significance
- Identify the test statistic
- Formulate a decision rule
- Take a sample, arrive at decision
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