Hypothesis Testing Basics: Type 1 and type 2 error, Power of the test
Type 1 and Type 2 errors can be quite confusing to understand. So this covers what both of the errors mean, which is more dangerous and how to calculate them. We also understand what some important terminologies essentially mean like "Null Hypothesis", "Alternate Hypothesis" and "Critical Region". We also look at what is the power of the test and how it is to be calculated.
If you want to want to know more about UMVUE, you can check the part 1 of the series on UMVUE here:
• Unique Minimum Variance Unbiased Estimator...
If you want to know more about method of maximum likelihood, you can check out the following videos:
• Maximum Likelihood Estimation - Explanatio...
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