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# scm week 6 notes MGMT 301

Penn State

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scum week 6 notes
COURSE
Basic Management Concept
PROF.
Ronald Johnson
TYPE
Class Notes
PAGES
1
WORDS
KARMA
25 ?

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This 1 page Class Notes was uploaded by Evangelos Katradis on Tuesday March 22, 2016. The Class Notes belongs to MGMT 301 at Pennsylvania State University taught by Ronald Johnson in Winter2015. Since its upload, it has received 17 views.

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Date Created: 03/22/16
week 6 notes scm  Steps in Testing Hypotheses 1) formulate a null and alternative hypothesis 2) specify a level of significance (alpha) 3) Specify the appropriate Test Statistic 4) take random sample and calculate the value of the Test Statistic 5) compute the p­value and compare it with alpha 6) draw conclusion: accept or reject Ho P­value • it is a probability. it is like a weight of evidence with regard to the null hypothesis • it is computed from the sample data • probability of obtaining the observed value or values more extreme than the observed  value • large p­value supports the null • small p­value support the alternative  ­ P­value decision rule: reject Ho if the p­value is less than or equal to the level of significance p­value < alpha ­Reject p­value > alpha ­Accept

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