Review:
Hypothesis Testing
overall review score: 4.5
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score is between 0 and 5
Hypothesis-testing is a method used in statistics to determine if there is enough evidence in a sample data to infer that a certain hypothesis about the population is likely true.
Key Features
- Formulating null and alternative hypotheses
- Selecting an appropriate test statistic
- Determining the significance level
- Calculating the p-value
- Making a decision based on the results
Pros
- Helps in making informed decisions based on data
- Provides a structured approach to testing hypotheses
- Can be applied to various fields such as science, business, and medicine
Cons
- Requires understanding of statistical concepts
- Results may be influenced by sample size or methodology