BHS 220 Case 5 Essay Example | Topics and Well Written Essays - 500 words

BHS 220 Case 5 - Essay Example It is denoted H1. Citing the previous example an alternative hypothesis can be represented as follows. Statement of the research question – the moment a researcher identifies a research problem. He/she comes up with an exhaustive research question that will enable him/her to carry out a rigorous process. This enables him to also identify parameters as well as variables to be used in the sample data collection. Formulation of the null and alternative hypothesis – at this level the researcher states the null and alternative hypothesis. For example, if we wish to test if the graduating age of a graduate is 24, then Compute the rejection region – here the p-value which is the probability of the test statistic is calculated for both tails. This value is compared with the value from the tables at the level of significance selected in step 2 above. If the probability is less than or equal to the significance level, then the null hypothesis is rejected and the opposite is true. Stating conclusions – the first statement should describe the results of the null hypothesis and those of the alternative hypothesis, stating whether we rejected the null hypothesis or not. The second statement should refer to the research question deducing respective inferences based on the outcome of the null hypothesis. In this case the first step will be specifying the null and the alternative hypothesis. Then choose the level of significance to be used and compute the test statistic. Compute the probability of the test statistic which is the p-value on both tails. This will give you a basis for rejecting or not rejecting the null hypothesis (rejection region). Lastly, deduce vivid and realistic conclusions from the outcome of the null

Some thoughts of the article Essay Example | Topics and Well Written Essays - 250 words

Some thoughts of the article - Essay Example Therefore, to address these problems, government should to utilize tools for monetary and fiscal policy. Monetary policies tool entails utilization of discount rates and reserve requirements to control inflation and stabilize the economy. On the contrary, fiscal policies tool entails application of taxes as well as control of government expenditure to achieve certain economic goals (Taylor & Weerapana, 2008). On the contrary, Micro economics refers to a branch of economics that involves the study of decisions made by individuals and firms regarding the scarce resource. Whereby, in micro economics, consumers aims to maximize their utility despite having scarce resource aims to maximize their profits while at the same time minimizing their cost. However, due to limited resources, both firms and individuals experience opportunity cost. Whereby, they have to decide the best alternatives to forgo given the fact that resources are limited (Mankiw, 2011). Normally, in micro economics, the prices of goods and services are determined by market forces of supply and demand as well as government regulations. Therefore, both individuals and firms should take into consideration the issues of tax and government regulations when making their decisions (Chandra,