(Solution) An article in Marketing News (T. > Snapessays.com

(Solution) An article in Marketing News (T.

An article in Marketing News (T. T. Semon, “Consider

a Statistical Insignificance Test,” Marketing News,

February 1, 1999) argued that the level of significance used

when comparing two products is often too low—that is,

sometimes you should be using an value greater than 0.05.

Specifically, the article recounted testing the proportion of

potential customers with a preference for product 1 over

product 2. The null hypothesis was that the population proportion

of potential customers preferring product 1 was

0.50, and the alternative hypothesis was that it was not equal

to 0.50. The p-value for the test was 0.22. The article suggested

that, in some cases, this should be enough evidence

to reject the null hypothesis.

a. State, in statistical terms, the null and alternative

hypotheses for this example.

b. Explain the risks associated with Type I and Type II

errors in this case.

c. What would be the consequences if you rejected the null

hypothesis for a p-value of 0.22?

d. Why do you think the article suggested raising the value

of a ?

e. What would you do in this situation?

f. What is your answer in (e) if the p-value equals 0.12?

What if it equals 0.06?

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