BA4101 Statistics for Management Notes PDF: Comprehensive Study Guide
Conclusion
Forecasting Methods:
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P-Value vs. Alpha (α)
- Alpha (α): The risk you are willing to take (usually 5% or 0.05).
- P-Value: The actual probability that your results occurred by chance.
- Decision Rule: If P-Value ≤ α → Reject Null Hypothesis (Your test worked!).