Null and Alternative Hypotheses

Category: Banking, Credit, Money

Last Updated: 19 Apr 2023

Pages: 1 Views: 1211

The development of null and alternative hypotheses was a difficult task for us at first. I think that people might have had issues understanding exactly what the difference was. I know that I myself had difficulty at first and ended up listening to the archived chats and reaching out to other members of my group for help. After doing all this and conducting some research online, I was finally able to grasp the concept. As the group communicated back and forth it was evident that we all agreed on a decision.

The decision was to recommend the alternative hypothesis and support the plan that allowed cash back when the consumer makes an online purchase. My group decided on supporting the alternative hypothesis. We felt that it was in the best interest of Armed Forces Credit Union to proceed with offering cash back on all purchases made online. We thought this would benefit both the Credit Union and the consumer. By not restricting the incentive to only shoe stores, Armed Forces Credit Union allows the customer freedom to purchase any product and receive cash back.

This in turn will increase the use of the credit card being offered by the Credit Union. This will also be an incentive to have customers apply for a credit card if they do not already have one. In the end, this option provided a better opportunity for growth for Armed Forces Credit Union. In order to explain the purpose of developing null and alternative hypotheses, we must first understand exactly what each of these is.

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