Question: Based upon the principles of hypothesis testing, we learn that for any business problem we must: Develop hypotheses, make a decision, and then collect data

  1. Based upon the principles of hypothesis testing, we learn that for any business problem we must:
    1. Develop hypotheses, make a decision, and then collect data to support the decision.
    2. Collect data, develop hypotheses, and then make a decision.
    3. **Develop hypotheses, collect data, and then make a decision.
    4. Collect data, make a decision, and then develop hypotheses.
    5. None of the above answers is correct.

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