The Number of Checks Processed at a Bank in a Day

question 96

True/False

The number of checks processed at a bank in a day is an example of categorical data.

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Definitions:

Null Hypothesis

In statistical hypothesis testing, a statement suggesting that there is no significant difference or effect and that any observed difference is due to sampling or experimental error.

Small P-value

In statistical hypothesis testing, a small p-value indicates strong evidence against the null hypothesis, suggesting that the observed data is unlikely under the assumption of no effect or no difference.

Null Hypothesis

A statistical assumption that indicates no effect or no difference in a particular context, used as a starting point for hypothesis testing.

P-value

A statistical measure that helps scientists determine the significance of their research results by comparing the observed data against a specific hypothesis.