Data are used either to test a hypothesis or to construct a confidence interval, but not both. Explain.
Data are used either to test a hypothesis or to construct a confidence interval, but not both. Explain.
Confidence intervals and hypothesis tests are similar during this they're both inferential methods that rely upon an approximated sampling distribution. Confidence intervals use data from a sample to estimate a population parameter. Hypothesis tests use data from a sample to test a specified hypothesis. Hypothesis testing requires that we have a hypothesized parameter.
The simulation methods accustomed construct bootstrap distributions and randomization distributions are similar. One primary difference could also be a bootstrap distribution is centered on the observed sample statistic while a randomization distribution is centered on the price within the null hypothesis.
The decision of whether to use a confidence interval or a hypothesis test depends on the research question. If it has to estimate a population parameter, we use a confidence interval. If there is given a hypothesized value and want to determine the likelihood that a population with that parameter would produce a sample as different as the sample, use a hypothesis test.
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