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Learn about the 5 steps in hypothesis testing. Learn how to run a hypothesis test in Excel.
Topics:
1. (00:00) Introduction
2. (00:39) What is a Hypothesis and what is Hypothesis testing?
3. (07:07) 5 steps in Hypothesis Testing
4. (08:23) Variables for Hypothesis Testing
5. (10:40) One Tail Upper (Right) Example for Mean Salary of Realtors
6. (11:22) Step 1: Null and Alternative Hypothesis
7. (17:58) Step 2: Determine Alpha, Type 1 Error Risk. What is Type 1, Alpha, Risk?
8. (23:00) Step 3: Collect Data, Compute Test Statistic
9. (25:28) Step 4: Use P-value, or 2) Critical Value Methods to determine if Test Statistic is past Hurdle
10. (30:34) Step 5: Write Conclusion
11. (32:15) Summary of video
12. (32:29) Closing, Next Video and Video Links