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Importance of null hypothesis, Business value

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What is the importance of the null hypothesis? Why has it been the backbone of mainstream hypothesis testing for decades? What are its limitations?

What is the value of performing hypotheses tests to solve problems related to business and operations management? Provide specific examples.

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What is the importance of the null hypothesis? Why has it been the backbone of mainstream hypothesis testing for decades? What are its limitations?

The claim made by the researcher with respect to a problem or issue in question forms the Alternate hypothesis (Ha). The opposite of this claim forms the Null hypothesis (Ho). It is used in hypothesis testing, which is the most important tool in inferential statistics.

The null hypothesis represents "things as they already stand" In a trial, the accused is held innocent until he is proved guilty by using ...

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