What is Intercultural Communication and How to Improve it
Increased and improved communication in today’s internet age has led to intercultural communication. People talk and communicate across states, cultures, and/or religion. While technology has made communication faster and easier, it is important that intercultural communication is handled with a lot of sensitivity. What can possibly go wrong? People encode and decode or interpret messages […]
Social Media Channels – Categorization
When one looks at the various social media channels and the traffic that flows through the various networks, you will be surprised at the amount of conversation and exchange of information that is taking place. As an individual it is but natural that every one of us would be logging in to several networks almost […]
Factors affecting Customer Satisfaction
Customer satisfaction is the overall impression of customer about the supplier and the products and services delivered by the supplier. Following are the important factors that could affect customer satisfaction: Departmentwise capability of the supplier. Technological and engineering or re-engineering aspects of products and services. Type and quality of response provided by the supplier. Supplier’s […]
Case Study of the Indian Banking and Financial Services Industry using Strategic Tools
Finance is like Oil to the Engine of the Indian Economy As finance is the grease and the oil that keeps the engine of any economy running, the BFSI sector assumes importance in this context. While the post independence era witnessed many large private banks that were either family or community run as well as […]
Shadow Banking – Meaning, Functions, Advantages & Disadvantages
Banking is perhaps the most regulated industry on the planet. The movement of funds in and out of the banking system is monitored by governments as well as regulators. However, competitive pressures force banks to undertake more risks and if possible earn a higher rate on their investments. This is what creates a parallel financial […]
Hypothesis testing is one of the statistical method used to confirm the effect that critical few inputs have on the outputs. Hypothesis testing must be used when the inputs are measured discretely. The outputs may be discrete or continuous. However the inputs must be discrete, if the inputs are continuous then correlation and regression testing may be used. The fundamentals of framing a hypothesis have been explained in this article:
Any hypothesis testing always has two hypothesis, the null and the alternate hypothesis. The null hypothesis testing shows no relation between the samples, whereas the alternate test accepts the existence of a relationship. Hypothesis testing therefore considers both the possibilities. It statistically reaches a decision as to which of the two hypothesis is valid.
The very name null signifies zero. The null hypothesis therefore implies no relationship in the variable parameters that are being measured. The null hypothesis states that there is no significant difference in the samples being measured.
For instance consider a sample of people being served at Branch A of a bank and customers being served at Branch B of the bank and service level is the parameter being measures. The null hypothesis will state that there is no statistically significant difference between the service levels at Branch A and Branch B.
Similarly the null hypothesis can be written for multiple branches. It can state that there is no statistically significant difference in the service levels of Branch A, Branch B, Branch C, Branch D and Branch E.
The alternate hypothesis by its definition is the one that is opposed to the null hypothesis. We never select the alternate hypothesis. When we reject the null hypothesis, the alternate hypothesis automatically gets selected. There are various types of hypothesis like:
It is important to understand whether the alternate hypothesis should be written in the directional or non-directional form. This is because the statistical tests being used at the background change significantly.
Formulating the problem correctly maybe the most important role for the Six Sigma project person in the analyze phase. This is because there are tools which can automatically solve the problem, but that is only after they have been correctly formulated.
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What the Current Wave of Protectionism and Populism mean for the Future of Globalization and Free Trade
February 12, 2025
