Complete Business Statistics by Aczel, Amir D, Sounderpandian, Jayavel, By Amir Aczel Complete Business Statistics 8/E with CD by Amir Aczel [Hardcover. Complete Business Statistics. Front Cover. Amir D. Aczel, Jayavel Sounderpandian. McGraw-Hill/Irwin, – Commercial statistics – pages. Aczel-Sounderpandian: Complete Business Statistics Abridged. Part 1: Principles of Economics. Front Cover. McGraw-Hill, – pages.

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A decision may be incorrect in two ways: Thus, when we reject a null hypothesis, we have a high level of confidence in our decision, since we know there is a small probability that we have made an error. The Null Hypothesis, H 0.


You can use the different templates that come with the text to investigate these concepts. We will see the three different types of hypothesis tests, namely Tests of hypotheses about population means.

It was decided to test the statistical hypothesis that the average performance time of the task using the new algorithm is the same, against the alternative that the average performance time is no longer the same, at the 0.

Compute the p-value for this test. If action is to be taken if a parameter is greater than some value a, then the alternative hypothesis is that the parameter is greater than a, and the test is a right-tailed test.


The power depends on the level of significance of the test: An automatic bottling machine fills cola into two liter cc bottles. The p-value of 0. Trial testimony and evidence Sample vusiness Auth with social network: The power depends on the sample size used: Picturing the Nonrejection and Rejection Regions 0.

Similar analysis can be done when testing for a population proportion. When the p-value is greater than 0. The findings are that the sample average concentration sounderpaandian 60 ppm and the sample standard deviation is 20 ppm. Fail to reject H 0 as true Reject H 0 as false There are two possible states of nature: Share buttons are a little bit lower. The analyst gathered a random sample of accounts of foreign investors in London and found that were owned by U.

Complete Business Statistics – Amir D. Aczel, Jayavel Sounderpandian – Google Books

In a left-tailed test, the p-value is the area to the left of the test statistic if the test statistic is negative.

The management hired an independent research agency, which visited a random sample of hotels nationwide and found that 7 of them satisfied the exact standards set by the association.

Reject H 0 if the sample mean falls outside the nonrejection region. Suppose that the upper allowable limit on the emission of vinyl chloride is set at an average of 55 ppm within a range of two miles around the plant emitting this chemical.

The relationship business the population mean and the power of the test is called the power function.


Aczel-Sounderpandian: Complete Business Statistics Abridged. Part 1 – Google Books

More detailed discussions about the p-value will be given later in the chapter when examples on hypothesis tests are presented. Suppose the company wants to test whether the new copier has the same average speed as its standard compact copier.

We think you have liked this presentation. The management of a hotel that was denied acceptance to the association wanted to prove that the standards are not as stringent as claimed and that, in fact, the proportion of all hotels in the United States that would qualify is higher than 0. To make this website work, we log user data and share it with processors.

That is, the nonrejection region includes all sample means that are not significantly different, in a statistical sense, from the hypothesized mean.

This means that for calculations using tables, the sample size n and the population proportion p should have been tabulated. Conversely, H 0 will not be rejected whenever x-bar is greater than x-bar crit.

Feedback Privacy Policy Feedback. Do not reject H 0 if: Factors Affecting the Power Function. The degrees of freedom for this chi-square random variable is n — 1.