Question: Explain the notions of mathematical differences, managerially important differences, and statistical significance. Can results be statistically significant and yet lack managerial importance. Explain your answer.

Explain the notions of mathematical differences, managerially important differences, and statistical significance. Can results be statistically significant and yet lack managerial importance. Explain your

answer.

Describe the steps in the procedure for testing hypotheses. Discuss the difference between a null hypothesis and an alternative hypothesis.

What purpose does a scatter diagram serve?

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