Your CEO Has Just Read a Book on Criticisms of the NHST

question 9

Multiple Choice

Your CEO has just read a book on criticisms of the NHST and worries that all company data analysis is now flawed and will lead to huge financial losses. How might you reassure her?

• A)NHST does have its flaws but everyone else uses it, therefore we should.
• B)NHST is a flawless approach and the book was probably written by a disciple of the Bayesian approach.
• C)NHST does have its flaws but if we incorporate an examination of effect sizes into our analysis, we should be able to trust our research outputs.
• D)NHST is a flawless approach and we need to invest in more data analysts who are trained in it.

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Definitions:

Disposal

The elimination of an asset from the balance sheet, typically due to sale, loss, or obsolescence.

Machinery

Physical assets used in a business operation to manufacture or produce goods.

Gain on Disposal

Gain on disposal refers to the financial profit made from selling an asset for more than its carrying amount on the books.

Market Value

The current price at which an asset or service can be bought or sold in an open market.