C04 ยท Lesson 5 of 22 ยท 16 min ยท 6 hands-on tasks
Hypothesis Tests and p-Values
A supplier says its new Granite-X drill bit is 20% faster. A 25-borehole trial came in 0.9 hours quicker. Real, or luck? Run a hypothesis test, read the p-value correctly, see the two ways a test can be wrong, and then ask the question that matters more: is the difference big enough to pay for?
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