Benchmark – Hypothesis Testing

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complete two hypothesis tests relevant to the specific requirements  of your scenario. To ensure tests are not duplicated, collaborate with  the other members of your group to identify specifically which data each  person in the group will be utilizing in the hypothesis tests. Using Excel, complete  the two hypothesis tests using different data sets at a .05 level of  significance. Generate a box plot for each test. The accuracy of  formulas and the box plot visuals will be assessed.

Part 2

Statistical  analysis can create a number of ethical challenges. Review the “Ethical  Guidelines for Statistical Practice,” “Statement on the Integration of  Faith and Work,” and the servant leadership and conscious capitalism  study materials. Consider the principle of “do no harm” and how, through  application of a Christian worldview perspective, ethical challenges  related to sampling methods, treatment of outliers, selection of levels,  or significance can be anticipated and addressed to ensure that  statistical analysis is completed effectively, efficiently, and  ethically.

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Provide a 750-1,000 summary of the hypothesis tests and  ethical issues related to statistical analysis. The summary should  address the following:

  1. Summary of the business scenario.
  2. Definition of the variables and sources.
  3. Rationale for the type of hypothesis tests used.
  4. Null and alternative hypothesis.
  5. Two hypothesis tests with results that include test statistic, critical value(s), and p-value.
  6. Box plot visuals for each hypothesis test.
  7. Interpretation of the statistical results of the hypothesis tests.
  8. Discussion  of potential ethical dilemmas associated with each hypothesis test,  including explanation of how the principle of “do no harm” and a  Christian worldview perspective could be applied to ensure the  statistical analysis was completed ethically. Include discussion of how  sampling methods, treatment of outliers, selection of levels, or  significance, etc. should be addressed for ethical compliance.
  9. Summary of the hypothesis testing results and how these can be applied to the specified business scenario.

Submit the Excel spreadsheet and Word summary document.

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