Question
Hypothesis tests are inferential procedures. These tests determine whether your sample evidence is strong enough to suggest that an effect exists in an entire population.
"Hypothesis tests are inferential procedures. These tests determine whether your sample evidence is strong enough to suggest that an effect exists in an entire population. Suppose you're comparing the means of two groups. Your sample data show that there is a difference between those means." (Frost, J.) A sample size is the sample taken from a population for a study and when we have a reasonably large sample size it minimizes sampling error. Increasing sample size, increase statistical power.As an example, on how it impacts business decision we would test whether business with effective marketing improves sales verses a business without marketing. "The definition of the level of significance is "the probability of making a Type I error when the null hypothesis is true as an equality" (Anderson et al, 2020).This is what our hypothesis' would be: "there is no difference between them". Testing this hypothesis would involve using a business with effective marketing improves sales higher than without marketing. Please discuss support with references
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