Statistics for Data Science and Business Analysis - Test for the Mean; Population Variance Unknown

The video tutorial covers hypothesis testing, focusing on a scenario where a marketing analyst estimates a competitor's email open rate. It explains the formulation of null and alternative hypotheses, the use of T-statistic for small samples, and decision-making based on T-score and P-value analysis. The tutorial concludes with a recommendation to practice exercises.

What conclusion can be drawn if the absolute value of the T score is lower than the critical value?

Evaluate responses using AI:

OFF

Discuss the implications of the P value in relation to the significance level.

Evaluate responses using AI:

OFF