6. Share the null and alternative hypotheses for a decision to launch a new product line. Additionally, identify the Type I and Type II Errors that could occur with your decisionmaking process.
7. Locate the results of a recent survey in an Internet article. Outline the survey data so that the variables and results are understood, and then identify at least one key formula of Analysis of Correlation and analysis of variation. Provide a brief explanation of why you selected the formulas you did and why each matters.
8. Use the Internet to find a website that shows an example or application of correlation or regression in the area of purchasing, production or manufacturing. Discuss how correlation or regression is used, summarize your findings, and share insight on how this can be used most efficiently.
Instructions: Answer each of the above questions. Each question must be completed in no less than 100 “ 150 words. Each question must have at least one source citations. The same source cannot be used for more than 1 question. Source should be listed in APA format. Do NOT provide the source on a reference page. Each source must immediately follow the answer to the specific question. Source citations must not be more than 5 years old and must not be more than 10% of your complete answer.