Discuss the properties of hypotheses, the importance and meaning of the level of significance and the various kinds of tests we might choose from and why.

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Write an essay answering the following questions. All must be covered.

Hypothesis testing is a set of core analysis tools used to
answer questions about the characteristics of a population. The process
involves several steps, varying from five to ten depending upon the author of
the text being used. What are these steps and why is it so important to
follow and explicitly state each step in the process? In your responses
discuss the properties of hypotheses, the importance and meaning of the level
of significance and the various kinds of tests we might choose from and why.
One and Two sample hypothesis tests are either comparing a
sample to a standard value or comparing two samples to each other. Thanks
to the Central Limit Theorem and the empirical rule we can usually trust the
results. But there are exceptions. These are called Type I and Type
II errors. So:
What are Type I and Type II errors?
Is there anything we can do to measure the likelihood of
these errors and thereby reduce the chance of these errors occurring?
In addition to the one and two sample tests of hypothesis we
have Analysis of Variance (ANOVA) which can compare multiple groups to each
other in a single analysis. ANOVA is one of the most widely used tests in
statistics. There are many varieties, but the biggest varieties are the one
factor and two factor ANOVA tests. What are these tests and what are the
differences between one factor and two factor ANOVA? Can you think of any
examples where these tests might be used in your workplace?