Respond to the following in a minimum of 175 words:
- Discuss the concepts of hypothesis testing, including what you are evaluating, when it should be used, and the differences between a one- and a two-tailed test.
- Describe an example from your own personal or professional experiences where you could apply a hypothesis test, and discuss how knowing that information helped you.
This week’s required readings explain the role that analytics plays in the modern business environment. Consider the following questions and respond in a minimum of 175 words:
- How is data analytics different from statistics?
- Analytics tools fall into 3 categories:descriptive, predictive, and prescriptive. What are the main differences among these categories?
- Explain how businesses use analytics to convert raw operational data into actionable information. Provide at least 1 example.
- Consider the organization you work for (or another organization you’re familiar with). Does this organization use data analytics?If so, how is it used? If not, how could the organization use data analytics to improve its performance?