Prompt: Review the articles on the BP Gulf Oil spill and corporate social responsibility in Required Readings. In your first Forum post include the following:
- Explain how the philosophy of Milton Friedman could have played a role in BP managementâ€™s decision.
- Identify one other ethical framework, other than Friedman’s Free Market Ethics, that that is illustrated in BP management’s decision process leading up to this event.
- How might BP have avoided this disaster with an enlightened view of corporate social responsibility (CSR)?
A town official claims that the average vehicle in their area sells for more than the 40th percentile of your data set. Using the data, you obtained in week 1, as well as the summary statistics you found for the original data set (excluding the super car outlier), run a hypothesis test to determine if the claim can be supported. Make sure you state all the important values, so your fellow classmates can use them to run a hypothesis test as well. Use the descriptive statistics you found during Week 2 NOT the new SD you found during Week 4. Because again, we are using the original 10 sample data set NOT a new smaller sample size. Use alpha = .05 to test your claim.
(Note: You will want to use the function =PERCENTILE.INC in Excel to find the 40th percentile of your data set. Hopefully this Excel function looks familiar to you from Week 2.)
First determine if you are using a z or t-test and explain why. Then conduct a four-step hypothesis test including a sentence at the end justifying the support or lack of support for the claim and why you made that choice.