Selecting and Testing Hypotheses.

Students were asked to complete an interactive simulation from the class resource page called "Selecting and Testing Hypotheses." This survey asked students to make critical decisions, using various statistical tests, which would assist a nationally recognized bank in rolling out new methods and procedures to combat identity theft. Selecting the test markets and sample size, producing a questionnaire, analyzing data, approving a method of biometric identification, and selecting a launch strategy were all key components …

…small sample the bank was able to conclude that it takes more time to verify signatures than individual biometric information. Hypothesis testing is a clear and effective way to test the validity of an assumption or claim made about any proposal. Considering all the research and data results the bank has made the correct decision. Pursuing a national launch based on the sample data is a winning situation for both the bank and its customers.