1. Based upon the principles of hypothesis testing, we learn that for any business problem we must:
   1. Develop hypotheses, make a decision, and then collect data to support the decision.
   2. Collect data, develop hypotheses, and then make a decision.
   3. **Develop hypotheses, collect data, and then make a decision.
   4. Collect data, make a decision, and then develop hypotheses.
   5. None of the above answers is correct.