Business Analytics Methods Can Examine Data Using Deeper Methods of Analysis

question 4

True/False

Business analytics methods can examine data using deeper methods of analysis in order to draw conclusions about relationships.

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Definitions:

P-Value

The probability of observing test results at least as extreme as the results actually observed, under the assumption that the null hypothesis is true.

Confidence Interval

A range of values, derived from sample data, that is likely to contain the value of an unknown population parameter, with a specified level of confidence.

Null Hypothesis

A default hypothesis that there is no significant difference or effect, often symbolized as H0, to be tested against an alternative hypothesis.

Level Of Significance

A different phrasing for the threshold probability used to decide when a hypothesis test's results are too unlikely under the null hypothesis, prompting its rejection.