(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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This question was answered on: Sep 21, 2023

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