In the early 20 th century, Guinness breweries in Dublin had a policy of hiring the best graduates from Oxford and Cambridge to improve their industrial processes. At the time, it was considered a ...

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 ...

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 ...

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 ...

What is a one sample t test? The t test is a commonly used hypothesis test in statistics that allows us to compare the mean value of a group of sampled data with some hypothesized value, usually a ...

What is Fisher's exact test? Fisher’s exact test is a statistical hypothesis test used to assess the association between two binary variables in a contingency table and is particularly useful when ...

Chapter 5 argued that substantial improvements in the cost-effectiveness of operational testing can be achieved by test planning and state-of-the-art statistical methods for test design. It was also ...