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Experiential HLS Class Exercise

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Experiential HLS Class Exercise

You were asked to Certify on the HLS lesson before class.

To do this activity you need to sit in teams of 3 with all of you in the same row so that you can work together on the HLS module in class.

- As you work the HLS questions in your team of 3 discuss the following
- What wording tells you the alternative and null hypothesis?
- What wording tells you the type of statistical test to perform? For example, is a z or t statistic appropriate?
- What wording tells you that this is a one or two tail hypothesis test?
- What were the steps you used to obtain the calculated value of the test statistic?
- What were the steps you used to obtain the critical value of the test statistic?
- How do you use the calculated and critical value to make a statistical decision about this test?
- How do you obtain the p value for the test statistic?
- How do you use the p value and the level of significance to make a statistical decision about this test?
- How does the result of your test relate to the statistical significance of your findings?
- What managerial implications can you conclude from the results of your test?