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Very Helpful Article by Jesse Farmer:
Say I hand you a coin. How would you tell if it’s fair? If you flipped it 100 times and it came up heads 51 times, what would you say? What if it came up heads 5 times, instead?In the first case you’d be inclined to say the coin was fair and in the second case you’d be inclined to say it was biased towards tails. How certain are you? Or, even more specifically, how likely is it actually that the coin is fair in each case?
Read more at:
https://20bits.com/articles/hypothesis-testing-the-basics/
Say I hand you a coin. How would you tell if it’s fair? If you flipped it 100 times and it came up heads 51 times, what would you say? What if it came up heads 5 times, instead?In the first case you’d be inclined to say the coin was fair and in the second case you’d be inclined to say it was biased towards tails. How certain are you? Or, even more specifically, how likely is it actually that the coin is fair in each case?
Read more at:
https://20bits.com/articles/hypothesis-testing-the-basics/
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