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Can you respond to this students discusssion: For this week's discussion, I would like to dive into hypothesis testing. Hypothesis testing involves finding a difference
Can you respond to this students discusssion: For this week's discussion, I would like to dive into hypothesis testing. Hypothesis testing involves finding a difference between two contrasting propositions relating to the value of one or more parameters (Evans, 2021). These parameters can be the mean, proportion, standard deviation, or variance. The null hypothesis describes the existing theory or belief that is accepted unless there is sufficient evidence that exists to refute it (Evans, 2021). The altered hypothesis is a complement of the null hypothesis and must be true if the hypothesis is false (Evans, 2021). The results will either come out that you reject the null hypothesis or fail to reject the null hypothesis (Evans, 2021). Hypothesis testing is critical for businesses because it allows management to see if there is a significant difference between one way of doing things and another. For example, hypothesis testing can be used to see if one marketing campaign is more effective than a previous one (Alcantara, 2023). Understanding what is more effective will allow management to determine what part of the business should receive more funds
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