Question

Define each and provide an example.

-1 Randomization “ Data Collection”

-2Population Parameter

-3 Subjectivity

-4 Null Hypothesis

Answer 1

[1] Randomization “ Data Collection”
Randomization is a process of randomly assigning subjects to treatment groups. These experiments allow the greatest reliability and validity of statistical estimates of treatment effects.
Techniques for randomization:
A completely randomized design assigns subjects to different treatment groups through random assignment.
A randomized block design is used to make sure that subjects with certain characteristics are assigned to each treatment i.e. when testing a certain medication, you might first want to split subjects in groups according to either gender or age (or both), then randomly assign each of these groups to the different treatments
[2] Population Parameter:
Population parameter is a value used to represent a certain QUANTIFIABLE characteristic of a population. In statistics it is a quantity or measure that for a given population is fixed and can be used in the description of that population. For a given population,it is fixed and that is used as the value of a variable in some general distribution or frequency function to make it descriptive of that population. e.g Mean and variance of population are the population parameters.

[3]Subjectivity:
Subjectivity is a central philosophical concept, related to consciousness, agency, personhood, reality, and truth, which has been variously defined by sources.
Subjectivity is contrasted to the philosophy of objectivity, which is described as a view of truth or reality that is free of any individual's biases, interpretations, feelings, and imaginings.:It is a type of probability derived from an individual's personal judgment about whether a specific outcome is likely to occur. It contains no formal calculations and only reflects the subject's opinions and past experience. Subjective probabilities differ from person to person, and contains a high degree of personal bias.An example of subjective probability is asking New York Yankees fans, before the baseball season starts, about the chances of New York winning the World Series.

[4] Null Hypothesis:
The null hypothesis (H0) is a hypothesis which the researcher tries to disprove, reject or nullify. It refers to the common view of somethingThe null hypothesis attempts to show that no variation exists between variables or that a single variable is no different than its mean. It is presumed to be true until statistical evidence nullifies it for an alternative hypothesis. Example: Alice sees that her investment strategy produces higher average returns than simply buying and holding a stock. The null hypothesis claims that there is no difference between the two average returns, and Alice has to believe this until she proves otherwise.