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C723 Quantitative Analysis for BusinessFinal WGU Exam Q&A 100% Solved Hypothesis - is an assumption about a population parameter such as a mean or a proportion null hypothesis (H0) - -represents the status quo -states a belief that the population paramete$7.99
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C723 Quantitative Analysis for BusinessFinal WGU Exam Q&A 100% Solved Hypothesis - is an assumption about a population parameter such as a mean or a proportion null hypothesis (H0) - -represents the status quo -states a belief that the population paramete
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Course
C723
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C723
C723 Quantitative Analysis for BusinessFinal WGU Exam Q&A 100% Solved
Hypothesis - is an assumption about a population parameter such as a
mean or a proportion
null hypothesis (H0) - -represents the status quo
-states a belief that the population parameter is ≤, =, or ≥ a specific value
-b...
Type II error - ✔✔-occurs when we fail to reject the null hypothesis when it
is not true
-when it occurs the customer is getting a product from a process that is not
performing properly
Correlation analysis - ✔✔-is used to measure both the strength and
direction of a linear relationship between two variables
-A relationship is linear if the scatter plot of the independent and dependent
variables has a straight-line pattern
correlation coefficient, r - ✔✔-indicates both the strength and direction of
the linear relationship between the independent and dependent variables
population correlation coefficient (ρ) - ✔✔refers to the correlation between
all values of two variables of interest in a population
confidence interval for the mean - ✔✔is an interval estimate around a
sample mean that provides us with a range within which the true population
mean is expected to lie
confidence level - ✔✔is defined as the probability that the interval estimate
will include the population parameter of interest
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