LA QUINTA mOTOR iNNS DEVELOPED A COMPUTER MODEL TO PREDICT THE PROFITABILITY OF MODEL PREDICTS…

LA QUINTA mOTOR iNNS DEVELOPED A COMPUTER MODEL TO PREDICT THE PROFITABILITY OF MODEL PREDICTS LARGE PROFITS,LA QUINTA BUYS THE PROPOSED SITE AND BUILDS A NEW HOTEL.IF THE COMPUTER MODEL PREDICTS SMALL OR MODERATE PROFITS,LA QUINTA CHOOSES NOT TO PROCEED. this decision-making procedure can be expressed in the hypothesis -testing framework.the null hypothesis is that the site is not a profitable location.THE ALTERNATIVE HYPOTHESIS IS THAT THE SITE IS A PROFITABLE LOCATION.a) Explain the risk associated with committing a type I error in this case.B) Explain the risk associated with committing a type iI error in this case.

C) Which type of error do you think the executives at LA Quinta Motor Inns are typing hard to avoid? Explain

 

Do you need a similar assignment done for you from scratch? We have qualified writers to help you. We assure you an A+ quality paper that is free from plagiarism. Order now for an Amazing Discount!
Use Discount Code "Newclient" for a 15% Discount!

NB: We do not resell papers. Upon ordering, we do an original paper exclusively for you.