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TCCD Wk 11 Hypothesis Null Hypothesis & Alternative Hypothesis Definition of Terms

Business Finance, Tarrant County College District

Business Finance, Tarrant County College District

TCCD Wk 11 Hypothesis Null Hypothesis & Alternative Hypothesis Definition of Terms

TCCD Wk 11 Hypothesis Null Hypothesis & Alternative Hypothesis Definition of Terms

Question Description

I’m working on a business discussion question and need an explanation and answer to help me learn.

Based on your reading, in your own words, define the following terms:

  1. hypothesis
  2. null hypothesis
  3. alternative hypothesis
  4. Type 1 error
  5. Type 2 error
  6. significance level
  7. p-value
  8. Based on your reading, in your own words, answer the following questions:
    1. What is the difference between Type 1 and Type two errors?
    2. What is the difference between one-tail and two-tailed hypothesis tests?

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