Tell the news anchor to recruit a statistician so report statistically significant findings. Months and years for most economic data are independent. A goodness of fit test with the bls data is the burden of proof. Inferences will focus on the mean of the data and hypothesis testing will indicate if the new means are greater, less or different.
Tell the news anchor to recruit a statistician so report statistically significant findings. Months and years for most economic data are independent. A goodness of fit test with the bls data is the burden of proof. Inferences will focus on the mean of the data and hypothesis testing will indicate if the new means are greater, less or different.
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