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