Explaining Results to Decision-Makers
I’m stuck on a Statistics question and need an explanation.
(1) An important part of using statistics is being able to explain your results to decision makers. Imagine that you have conducted a two-sample test and determined that the difference was not statistically significant. While one mean was 4.3 and the other was 3.9, the p level for the t test was p=.07. Your management team says, “Well, the difference may not be statistically significant, but the difference is there! Discuss how you would respond and how you would explain the purpose of the t test and significance in this case.
(2) As discussed in our readings, what are the 8 steps involved in hypothesis testing? Why is it important to say we either reject or do not reject the null hypothesis? Compare and contrast the t-test and the z-test? When would you run a t-test instead of a z-test? What is a p-value?
(30 What are some concepts behind analysis of variance analysis? Why is it important to test for variances in your data? Explain. How is analysis of variance analysis used in your profession? Provide an example. Compare and contrast the One-Way and Two-Way ANOVA? How are they similar and how do they differ?