A p-value is expressed as a number between 0 and 1. It is used to determine if hypothesis test results are statistically significant or not.
Hypothesis Testing helps prevent needless expenditure in pursuit of the wrong solution. We take a scientific approach to check assumptions.
It’s important to figure out which question you want to answer. Once you know that, you can develop your null and alternative hypotheses.
Retaining customers can be a viable strategy as some estimates value existing customers 5xs more than new customers.
An XmR chart (aka Shewhart’s Control Chart aka ImR chart) is a chart where the control limits are calculated from the moving average range.