### Suppose you conduct a test and your p-value is equal to 0.93. What can you conclude?

Discard Null hypothesis at $alpha=0.05$ but retain at $alpha=0.10$. Discard Null hypothesis at $alpha=0.01$ but retain at $alpha=0.05$. Discard Null hypothesis at $alpha=0.10$ but retain at $alpha=0.05$. Discard Null hypothesis at $alpha=0.10$, $0.05$ and $0.01$. Do not Discard Null hypothesis at $alpha=0.10$, $0.05$, or $0.01$. This problem aims to familiarize us with the concept […]

### X~N(570, 103). Find the z-score corresponding to an observation of 470.

Find the corresponding score for the given observation and select the right one from the given options: a) 0.97 b) -0.97 c)  0.64 d) -0.97 The objective of this question is to find the corresponding score of normal distribution for the given observation. This question uses the concept of the Normal distribution to find the corresponding […]

### What assumption(s) are frequently made when estimating a cost function?

The aim of the question is to find the two assumptions which are considered while estimating the cost function. The basic concept behind estimating cost function is cost behavior analysis. Cost behavior analysis identifies the change in the total cost of the product at the end due to the change in its activity level. For […]

### Given a data set consisting of 33 unique whole number observations, its five-number summary is: [12,24,38,51,64]. How many observations are less than 38?

The aim of this question is to find the number of observations in the set which are less than its median value of $38$. The concept behind this question is the Locator/ Percentile method. We are going to use the Locator/ Percentile method for finding the number of observations in the given five-number summary. The […]

### For a test of $ho$: $p$ = $0.5$, the $z$ test statistic equals $1.74$. Find the $z$ test statistic equals $p$-value for $ha$: $p$ > $0.5$.

The purpose of this question is to find the $p$ value for $H_a$: $p$ > $0.5$ using the z-test statistics test. The $p$-value approach determines the “likely or unlikely” probability, assuming the null hypothesis is true and determining more extreme test statistics in the direction of the alternative hypothesis than the one observed. If the $p$-value […]