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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