Student loan debt has fluctuated over years, with signs indicating that the default rate may be increasing. Write the null and alternative hypothesis if you want to determine if the student loan default rate this year is more than .
Table of contents
- 1. Introduction to Statistics53m
- 2. Describing Data with Tables and Graphs2h 1m
- 3. Describing Data Numerically1h 48m
- 4. Probability2h 26m
- 5. Binomial Distribution & Discrete Random Variables2h 55m
- 6. Normal Distribution & Continuous Random Variables1h 48m
- 7. Sampling Distributions & Confidence Intervals: Mean2h 8m
- 8. Sampling Distributions & Confidence Intervals: Proportion1h 20m
- 9. Hypothesis Testing for One Sample2h 23m
- 10. Hypothesis Testing for Two Samples3h 25m
- 11. Correlation1h 6m
- 12. Regression1h 4m
- 13. Chi-Square Tests & Goodness of Fit1h 30m
- 14. ANOVA1h 4m
9. Hypothesis Testing for One Sample
Steps in Hypothesis Testing
Struggling with Statistics for Business?
Join thousands of students who trust us to help them ace their exams!Watch the first videoMultiple Choice
Checking for statistical significance when testing a new marketing channel ensures:
A
That the marketing channel will always increase sales.
B
That all confounding variables have been eliminated.
C
That observed results are unlikely to have occurred by random chance alone.
D
That the sample size is the largest possible.

1
Understand the concept of statistical significance: Statistical significance is a measure of whether the observed results in a study are unlikely to have occurred due to random chance. It does not guarantee causation or eliminate confounding variables.
Identify the purpose of testing a new marketing channel: The goal is to determine if the observed results (e.g., increased sales) are meaningful and not due to random variation in the data.
Clarify the role of confounding variables: Statistical significance does not imply that all confounding variables have been eliminated. Confounding variables are external factors that can influence the results, and their control requires careful experimental design.
Recognize the importance of sample size: While larger sample sizes can improve the reliability of results, statistical significance focuses on the probability of results occurring by chance, not the size of the sample.
Conclude the correct interpretation: Statistical significance ensures that the observed results are unlikely to have occurred by random chance alone, which is the correct answer to the problem.
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