Business owners like to know how their decisions will affect their business. Before making decisions, owners may explore the benefits of hypothesis testing. By making such tests, they can have more confidence in their decisions. One example is Joe Smith who is testing to see whether the company's gym shoe will have a significant difference on weight loss. If the company markets this shoe and finds that it does not cause weight loss as expected, they may want to consider their marketing strategy or dropping the campaign all together. What is a scenario of how hypothesis testing can be used in the business world

Question

18-10-2019
Business

contestada

Business owners like to know how their decisions will affect their business. Before making decisions, owners may explore the benefits of hypothesis testing. By making such tests, they can have more confidence in their decisions. One example is Joe Smith who is testing to see whether the company's gym shoe will have a significant difference on weight loss. If the company markets this shoe and finds that it does not cause weight loss as expected, they may want to consider their marketing strategy or dropping the campaign all together. What is a scenario of how hypothesis testing can be used in the business world

Respuesta :

Otras preguntas

No way is this app going to get my money

Proctor’s refusal to confess in Act IV resulted in Select one: a. The freeing of his wife and unborn child b. Abigail’s escape with Parris’ money c. Hale’s refu

Explain two criticisms of FDR's New Deal, from different sides of the political spectrum

(2a) Solve the equation: 2x = 5 *

Did all all residents of Rome had equal rights under the Roman Republic?

Find m AC please hurrrrryyyyyyyyyyy

Define photsynthesis? Of class 10 cbce

Meg is heading back to her car after a hike to Misty Falls. The waterfall is at an elevation of 4,000 feet, and the trail descends an average of 500 feet for e

9+a<17;7,8,9 b-10>5;15,15,16 1+f<7;5,6,7 G-3>4;6,7,8

A bicycle has a listed price of $811.99 before tax. If the sales tax rate is 6.5% , find the total cost of the bicycle with sales tax included. Round your answe

jaquelinefvr jaquelinefvr · Answer 1 · 2019-10-22T16:37:24+02:00

Hypothesis testing can be used as a way to test variables that will directly affect the outcome expected by a company. Through the statistical effect, it is possible to know the causes and effects that some management decision may affect the results and then the decision making happens more effectively, because the hopesis test is a sampling of a possible real scenario, because it uses real data, and thus opens room for correction of flaws and adequacy of the marketing strategy.