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Purpose of Assignment
The purpose of this assignment is to develop students’ abilities to combine the knowledge of descriptive statistics covered in Weeks 1 and 2 and one-sample hypothesis testing to make managerial decisions. In this assignment, students will learn how statistical analysis is used in predicting an election winner in the first case. In the second case, students will conduct a hypothesis test to decide whether or not a shipping plan will be profitable.
Resources: Microsoft Excel®, Case Study Scenarios, SpeedX Payment Times
Write a 400- to 600-word statistical analysis paper based on the Case Study Scenarios and SpeedX Payment Times. Include answers to the following:
Case 1: Election Results
- Use 0.10 as the significance level (α).
- Conduct a one-sample hypothesis test to determine if the networks should announce at 8:01 P.M. the Republican candidate George W. Bush will win the state.
Case 2: SpeedX
- Use 0.10 and the significance level (α).
- Conduct a one-sample hypothesis test and determine if you can convince the CFO to conclude the plan will be profitable.
Use the Excel Spreadsheet to show your work.
Format your assignment consistent with APA format with at least one (1) peer-reviewed reference and one reference from the assigned readings. Please include an Introduction, at least one (1) Level One Heading and Conclusion Heading.