Ch 11 - In class Assignment Student Student The following questions feature non-

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Ch 11 - In class Assignment Student Student The following questions feature non-statistical applications of hypothesis testing. For each, identify the hypothesis, define type I and type ll errors, and discuss the consequences of each error. In setting up the hypothesis, you will have to consider where to place the "burden of proof." 11.1 It is the responsibility of the federal government to judge the safety and effectiveness of new drugs. There are two possible decisions: approve the drug or disapprove the drug. 11.2 You are contemplating a Ph.D. in business or economics. If you succeed, a life of fame, fortune, and happiness awaits you. If you fail, you've wasted 5 years of your life. Should you go for it? Ho: Hi 11.3 You are the centerfielder of the New York Yankees. It is the bottom of the ninth inning of the seventh game of the World Series. The Yanks lead by 2 with 2 outs and men on second and third. The batter is known to hit for high average and runs very well but only has mediocre power. A single will te the game, and hit over your head will likely result in the Yanks losing. Do you play shallow? Ho: 11.4 You are faced with two investments. One is very risky, but the potential returns are high. The other is safe but the potential is quite limited. Pick one. Hi: 11.5 You are the pilot of a jumbo jet. You smell smoke in cockpit. The nearest airport is less than 5 minutes away. Should you land the plan immediately? Hi:

Explanation / Answer

Answers-

1. Null hypothesis - Drug is ineffective

Alternative hypothesis - Drug is effective

Type 1 error- When drug is ineffective and it is retained that it is effective

Type 2 error - when drug is effective and it is retained that it is ineffective.

2. Null hypothesis - Life is to be wasted

Alternative hypothesis - Life is going to be good

Type 1 error- When life is to be wasted and you still go for it

Type 2 error - when life will be good and still you do not go for it

3. Null hypothesis - Batter will not take a high shot

Alternative hypothesis - Batter will take a high shot

Type 1 error- When batter will not take a high shot and you do not go for shallow

Type 2 error - when batter will take a high shot and you go for shallow

4.Null hypothesis - Investment is safe

Alternative hypothesis - Invsetment is risky

Type 1 error- When investment is safe and you still go for risky investment

Type 2 error - when investment is risky and you go for safer investment.

TY!

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