Level of significance - hypothesis testing , Operation Research

Assignment Help:

Level of Significance

In testing a given  hypothesis  the maximum  probability with which  we would  be willing  to take  risk is called  level of  significance of the  test. This probability  often  denoted by  is generally specified before sample  are draw.

The level of significance  usually  employed in  testing of significance  are 0.05 ( or 5%) and 0.01 ( or 1%). If  for example  a 0.05 or 5% level of  significance  is chosen  in deriving a test of hypothesis  then there  are about  5 chances in 100 that we  would  reject the  hypothesis  when it  should  be accepted ( i .e.). we are about 95% confident that we made the right  decision. In  such a case we say that the hypothesis  has been  rejected at 5 % level  of significance which  means that we  could  be wrong  with  probability 0.05.

Note : Critical Region : A region  in the sample  space S which  amounts  to rejection of HO is termed  as critical region or region of  rejection.

 


Related Discussions:- Level of significance - hypothesis testing

Discuss how theories is helpful researchers in communication, QUESTION 1 ...

QUESTION 1 i) What do you understand by the following terms? And what is their role in communication theories? Ontology Epistemology Axiology ii) Discuss how

Linear programing, main components of a linear programming

main components of a linear programming

Linear Programming , A Paper mill produces two grades of paper viz. X and ...

A Paper mill produces two grades of paper viz. X and Y. Because of raw material restrictions, it cannot produce more than 400 tons of grade X paper and 300 tons of grade Y paper in

Testing operation research model, After testing the model and its solutio...

After testing the model and its solution the next step of the study is to establish control over the solution by proper feedback of the information on variables which deviated

Goal programming, Goal Programming This provides a more realistic model...

Goal Programming This provides a more realistic model. In a modern setting, profit maximization may not be the only objective of a business concern. Other objectives or goals c

Reports - classification of documents, Reports: Report literature is a...

Reports: Report literature is an important primary source of information, particularly  for a research library. This new  medium for communication of information came into bei

Simplex method, how to solve simplex method in LPP?

how to solve simplex method in LPP?

CORE TECHNOLOGY TO WATCH IN FUTURE, AI TECHNOLOGY''S CURRENT AND POTENTIAL ...

AI TECHNOLOGY''S CURRENT AND POTENTIAL FUTURE APPLICATIONS

DECISION MODELS, CRITICAL EXAMINATION OF THE APPLICATION OF DECISION THEORY...

CRITICAL EXAMINATION OF THE APPLICATION OF DECISION THEORY TECHNIQUES OR MODEL IN BUSINESS DECISION MAKING IN NIGERIA

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd