So, what did you learn in this session?

1.Making a decision using the p-value method, which involves the following steps:

  • Calculate the value of the Z-score for the sample mean point of the distribution.
  • Calculate the p-value from the cumulative probability of the given Z-score using the Z-table.
  • Make a decision on the basis of the p-value with respect to the given value of α (significance level).

2 .Types of errors:

  • Type-I error: This occurs when you reject a true null hypothesis. Its probability is represented by α.
  • Type-II error: This occurs when you fail to reject a false null hypothesis. Its probability is represented by β.

Let’s quickly recap the first two sessions in this video.

In the next segment, we have provided the graded questions, answer the questions based on the concepts learnt in this session.

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