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

Construction procedure for research tool, CONSTRUCTION PROCEDURE The c...

CONSTRUCTION PROCEDURE The construction of an interview schedule or questionnaire is a time consuming task requiring considerable attention to all the details. The investig

Cost, Six Operators are to be assigned to five jobs with the cost of assign...

Six Operators are to be assigned to five jobs with the cost of assignment in Rs. given in the matrix below. Determine the optimal assignment. Which operator will have no assignment

Operational performance and price, An electro-mechanical product for use in...

An electro-mechanical product for use in a vehicle has been in widespread use for some time and has proved popular with customers, in terms of its operational performance and price

Case Analysis, Ask question #Minimum 100 woRead this article and then write...

Ask question #Minimum 100 woRead this article and then write a three-page summary of the application (problem definition, objective function constraints, decision variables, etc.)

Categories of information in social sciences, Categories of Information in ...

Categories of Information in Social Sciences: It would be useful, particularly in social sciences, to group information into three categories:  •  Statistical Information

Management Applications of Operation Research, Some areas of applications a...

Some areas of applications are Purchasing, Procurement and Exploration Quantities and timing of purchase Replacement policies Rules for buying, supplies Finance, Budgeting and Inv

Transportation and assignment problem, What are the computer applications o...

What are the computer applications of transportation and assignment problem

Determination of the operation, An operation is a combination of different...

An operation is a combination of different actions dealing with raw materials( e, g, men and machines) which form a structure from which an action with regard to broader ob

Assignment question. please give me the solution, A paper mill produces two...

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 i

Linear problem, #q A paper mill produces two grades of paper viz., X and Y....

#q 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 pape

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