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.

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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).

orchestra answered 1 year ago

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