MBA 502: Applied Quantitative Methods for Business Week 3 Hypothesis Testing Readings Chapters 8 and 9 (Essential Statistics in Business Economics) Discussion 2 Suppose a revolutionary hypothesis has been proposed by a famous Professor Brainstorm, and if the truth be known, it really did not conform to facts (population parameters). In the formal language of hypothesis testing, it is the null hypothesis that is true, after all. (The professor interpreted his results at the 5 percent level). His research was published and he won accolades for his scientific breakthrough. What does this story say about hypothesis testing and research? What is the likelihood of this happening? There are a number of safeguards in place so this should not happen in the scientific world. What are some of these? |