Question
In: Statistics and Probability
STATISTICAL INFERENCE A company has been producing steel tubes of mean diameter 2.00 cm.A sample of...
STATISTICAL INFERENCE
A company has been producing steel
tubes of mean diameter 2.00 cm.A sample of 10 tubes gives a mean
diameter of 2.01cm and variance of 0.004sq.cm .Is the difference in
the mean values significant?
PLEASE EXPLAIN THE MEANING OF THE SIGNIFICANCE OF
THE DIFFERENCE IN MEAN VALUES IN DETAILS.
Solutions
Expert Solution
Statistical significance of difference in means is the
probability of finding a given deviation from the null hypothesis
-or a more extreme one- in a sample. Statistical significance is
often referred to as the p-value (short for “probability value”) or
simply p.
A small p-value basically means that your data are unlikely under
some null hypothesis and the difference in means is significant. A
somewhat arbitrary convention is to reject the null hypothesis if
p-value is very small.(less than the significance level, eg - 0.1,
0.01, 0.001).
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