Can the formal hypothesis testing approach be used for nonparametric tests? How are parametric and nonparametric statistics different? How are parametric and nonparametric statistics similar?
Under what circumstances should a nonparametric test be used? Explain. What are the strengths and weaknesses of nonparametric tests? Can the outcomes of nonparametric tests be generalized to populations?
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Why do you use the chi-square statistic? What type of data is used with chi square analysis? What are the nonparametric tests that correspond to each type of parametric test in Week 1 and Week 2?
What are some business situation in which ANOVA would be more appropriate than a (Z) or (t) test?
What are business problems in which the application of Chi ? Square statistic is appropriate?
How can bias affect business decision? Provide an example.
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