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Employees at a dry cleaning service are evaluated on the number of shirts ironed per hour. All of the employees iron between 10 and 12 shirts per hour, so it is difficult to distinguish between effective and ineffective employees. There appears to be a problem with the performance criterion's:
Standard Error
Refers to the standard deviation of the sampling distribution of a statistic, often used as an estimate of the precision of a sample mean or proportion.
Level of Significance
The predetermined threshold in hypothesis testing, below which the null hypothesis is rejected, indicating statistical significance.
Industry Standard
A set of criteria within an industry relating to the quality, safety, and performance of products and services accepted as the norm.
P-Value
The probability measure indicating the likelihood of obtaining a test statistic at least as extreme as the one that was actually observed, assuming that the null hypothesis is true.
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