Assignment Task
Hypothesis testing steps
Step 1: State the null hypothesis.
Step 2: State the alternative hypothesis.
Step 3: Identify which statistical test to use / Carry out the appropriate statistical test.
Step 4: Decide on the significance level.
Step 5: Give your ‘decision rule’ (e.g. if p-value is less than 0.05 then Reject Null Hypothesis OR if t-value is > Critical value then Reject Null Hypothesis).
Step 6: Compare the p-value with the level of significance OR compare the t-value with the critical value.
Step 7: Give decision about rejection or acceptance of the null hypothesis (i.e. Reject null hypothesis or do not reject null hypothesis).
Step 8: Provide a practical marketing implication for managers.
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