From the course: Learning Excel: Data Analysis
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Consider the limits of hypothesis testing - Microsoft Excel Tutorial
From the course: Learning Excel: Data Analysis
Consider the limits of hypothesis testing
- [Narrator] As much as we'd like to think that statistics is an exact science, in fact, there's a lot of room for uncertainty. In this movie, I want to go over some of the limits of hypothesis testing to give you some cautions about your data and your analysis. The first is that even if your analysis meets the 95% standard that most analysts use, you will still be wrong one out of 20 times. And if you've ever performed any type of analysis or even flipped a coin and gotten four or five tails in a row, then you know how likely it is that events can happen one out of 16, one out of 20, or even one out of 100 times. Also, you might run into errors in data collection or analysis that can skew your results. Some errors in data collection are not randomized in your samples or using old data, so make sure that your data is collected properly and that it isn't too old and that circumstances haven't changed to make the analysis invalid. And also remember that correlation is not causation…
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