Once the Hypotheses Are Set Up, and the Data Have

question 28

Essay

Once the hypotheses are set up, and the data have been collected and summarized in a test statistic, what is the next step, that ultimately leads you to make your decision?

---

Definitions:

Efficiency

The ability to accomplish a task or a set of tasks with the minimum amount of resources, time, and waste.

Pricing Scheme

A strategy or formula used to determine the selling price of goods or services.

Speed of Shipping

The rate at which goods are moved from the point of production or storage to their final destination.

Amazon

A global technology company focused on e-commerce, cloud computing, digital streaming, and artificial intelligence.