1.Explain Type I and Type II errors.Give an example using a baseball pitcher throwing a ball to the catcher and the umpire making his/her call.

2.Explain what a p-value is, and explain how it is used to test a hypothesis. Make sure to include alpha in your answer.

3.Fully explain the steps in hypothesis testing using the p-value method.If you did this well in your discussion, then you may use that here too.Remember, explanations go beyond a list of steps.Make sure to show formulas, tell me HOW to do the steps.Please avoid generic statements like "calculate the test statistic."Instead, tell me what my test statistics are, show me formulas...etc.

4.How do we decide whether to use a z test or a t test in hypothesis testing?(The discussion had this part too)

5.Work through this hypothesis test using the prompts below.In other words, finish the sentences I have started.

A sample of 14 account balances of credit company showed a mean of customer balance of $4,400, but the marketing manager claimed that the mean balance for the population was $4,215. The marketing manager did NOT have the population standard deviation, but the sample standard deviation was found to be $200. Use the p-value approach to conduct a full hypothesis test (all steps) that can be used to determine whether the mean of all account balances is significantly different from $4,215. Let= .05.

To help you go through the steps of hypothesis testing, follow these prompts:

The null hypothesis is

The alternative hypothesis is

This test is (choose 1:one-tailed / two-tailed) because the last sentence contains the words (choose 1:greater than/less than /different from).

I will use a (choose 1: t/z) in my formula because

I have calculated the value of t (or z) to be

(Insert your work for calculating t or z)

I have used t (or z) to get the value of p (most likely from a chart or computer printout).

My p value is

Alpha, which is given in the problem, is

When I compared p to alpha, p is (choose 1: greater than/less than) alpha.

Because of this, I know I should (choose 1: reject / fail to reject) my null hypothesis.

Choose one: In summary, the mean balance is different than $4215 / In summary, the mean balance is NOT different than $4215.

6.Work through this hypothesis test using each step of hypothesis testing. You may want to borrow the prompts from the previous problem.

A sample of 105 homes for sale in ABC City showed a mean asking price of $254,000, but the city claimed that the mean asking price for the population was $249,500. The population standard deviation of all homes for sale was $24,000. Use the p-value approach to conduct a full hypothesis (all steps - follow the guidance in the last problem) that can be used to determine whether the mean asking price is significantly greater than $249,500. Let=. 0.1