Discuss the below:
Q. Set-up the hypothesis test for each study described below. (Just setup the null and the alternative hypothesis, and make sure the hypothesis is testable)
a. The cure for patients using an old drug against disease X was 50%. A new drug purports to improve the cure rate for Disease X. Set up the hypothesis test
b. A researcher is not sure if Buffalo River bullheads will have a different weight profile than most similar fish in the region. The regions average brown bullhead weighs 14 ounces.
c. A bank vends a complicated financial instrument called an XD. A researcher believes that the XD, on average, pays less interest than bank CDs. Over the long term CDs pay an average of 3%