At times we wish to examine statistical evidence, and determine whether it supports or contradicts a claim that has been made (or that we might wish to make) concerning the entire population. This is ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

Business owners like to know how their decisions will impact their businesses. According to Harvard Business School Online, before making decisions, managers may explore the benefits of hypothesis ...

If the data falls in the critical region, statisticians reject the null hypothesis in favor of the alternative. A one-tailed test in statistics is used to determine if a sample mean is significantly ...

In the realm of technical product development, hypothesis testing acts as a bridge between design, data and decision-making. It enables teams to move beyond assumptions and validate their ideas ...

Hypothesis testing problems in which the null hypothesis is simple, the parameter space is finite dimensional and the supports of the probability measures are independent of the parameter are ...

Rob Herbert does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their ...

In Hypothesis Testing 1, 2 and 3, you have used normal and t-distributions to test hypotheses. Chi-Square tests use the Chi-Square probability distribution. You will be introduced to the use of that ...