03 Nov Topic: Do you believe it?Hypothesis testing typica
Topic: Do you believe it?Hypothesis testing typically begins with a theory, a claim, or an assertion about a particular parameter (mean, μ, or proportion, p) of a population.The Federal Trade Commission (FTC) is an independent agency of the U.S. federal government charged with preventing unfair or deceptive trade practices. It regulates advertising, marketing, and consumer credit practices, and also prevents antitrust agreements and other unfair practices.The FTC publishes press releases regularly about health and fitness claims athttps://www.ftc.gov/news-events/media-resources/truth-advertising/health-claimsMain Post: Find a claim about a product or service from one of the press releases listed in the FTC website. Read through these and select one of interest to you that has not been picked by anyone else yet in class. See Example and DB starter video in Unit 7 LiveBinder.1) Summarize the advertising claim as shared in the media. What population parameter (mean, μ, or proportion, p) is the claim about? 2) If you were to formulate a hypothesis test about this product/service, what would your null and alternative hypothesis be? (Be sure to use all the correct notations for H0 and Ha) 3) State whether you have a one-tailed lower, one-tailed upper, or two-tailed test (Be sure you use the correct inequality signs).