Team Paper Hypothesis- Wk-3

Submitted by: Submitted by

Views: 460

Words: 437

Pages: 2

Category: Business and Industry

Date Submitted: 09/27/2011 06:01 PM

Report This Essay

 Describe the results of your test and explain how the findings from the hypothesis testing may be used to answer your research question+

The process of developing a hypothesis and testing it out with a set or multiple sets of data is a highly recommended task to determine a variety of answers from business to sports. Our team reached into both areas, involving the business of sports. We developed a hypothesis for one in particular Baseball, a huge sport all over the world and especially within the United States. Our research involved the annual salary of an American Baseball Teams between 1989 and 2005. The team’s hypothesis developed was that the average salary, of 15 randomly chosen teams, would be less than $73.1 million per team. Any useful hypothesis will enable predictions by reasoning, as with Team A’s, by merging the random data set and determining a mean for all the salaries, which came out to $73.1 million. Once the hypothesis was determined, based from the mean that was developed from a data set of salaries, the team had to then define a guess or an experiment that would test the hypothesis and give valuable feedback. This process was shown through five steps performed to determine the accuracy of our team’s hypothesis. Our team decided to test a five percent significant level on our hypothesis, which in the end would determine if the average salaries are less than our determined mean, $73.1 million.

With the test implemented and the equations drawn out to observe and try, the next step was to review the data and see if our hypothesis on team salaries was true or false. Looking over the data, out team concluded with a five percent significant level, that the average salary of our population sample was not less than $73.1 million average. These steps and the outcome of the five percent significant level our very useful for our team’s hypothesis because the experiment performed gives us an example to go off of. In a lot of hypothesis studies...