Beware of testing too many hypotheses; the more you torture the data, the more likely they are to confess, but confession obtained under duress may not be admissible in the court of scientific opinion.1

As pointed out in Chapter 4, estimation and hypothesis testing constitute the two major branches of classical statistics. The theory of estimation consists of two parts: point estimation and interval estimation. We have discussed point estimation thoroughly in the previous two chapters where we introduced the OLS and ML methods of point estimation. In this chapter we first consider interval estimation and then take up the topic of hypothesis testing, a topic intimately related to interval estimation.

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Rules Of The Rich And Wealthy

Rules Of The Rich And Wealthy

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