A hypothesis is a statement about a phenomenon, trying to explain a population parameter or effect of a process when we have limited information about that population or process. A representative sample is used for observation and testing. An inference then made about the population, based on the test results. Increasing productivity after implementing a new benefits plan, treatment effect of a new medication, environmental ramifications of a chemical production plant, and using new technologies for learning, are examples where we state a hypothesis about population or process based on limited observations. Hypothesis testing is a process of statement, determining decision criteria, data collection and computing statistics, ...
Get Introduction to Business Analytics now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.