QNT 351 Week 5 First Message#1

Week 5 First Message#1

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• What are the five steps in the hypothesis testing procedure? Are the steps followed in sequence? Explain why or why not. How does the five-step procedure for hypothesis testing differ when comparing two groups using a t-or z-test? How is the process similar?
• What is the importance of a 5% significance level? Why would you choose 5% as opposed to 10% or 1%? What effect does the level of significance have on a Type II error?
• Under what conditions would you use a t-test as opposed to a z-test? Can you use the t-table to determine the critical value of the z-test? Explain why. What are the differences between a one-tailed and a two-tailed test?