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Inferential Statistics Part 1: Hypothesis Testing
Introduction to Hypothesis Testing
We often talk about fact-based decision making. In reality, however, there are a number of factors that influence our decisions. Some of these are
- experience,
- judgment,
- assumptions, and
- the need to maintain relations.
Data-based decisions can help you overcome such influences and lead you in the right direction. Let us now see how statistical methods can help us take data-based decisions.
What type of conclusions do we need to draw so as to improve continually?
- Who is a better supplier?
- Is the proposed process better? Do we change the process?
- Is the new design more reliable?
- Is the new material stronger?
- Is the new software better and faster?
- Are sales ...
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