Statistical Testing

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Definitions
Goodness-of-Fit Test
Goodness-of-Fit Test Statistical Testing Chi-Square Test Hypothesis Testing Probability Distribution Data Analysis Statistics
A statistical procedure used to test the hypothesis that a particular probability distribution adequately fits an observed set of data.
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Definitions
Type 2 Error
Type 2 Error Statistical Testing Null Hypothesis False Negative Hypothesis Testing
In statistical testing, a Type 2 Error occurs when the null hypothesis is not rejected even though it is false. This error, also known as a false negative, has significant implications in hypothesis testing as it can lead to incorrect conclusions.
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Definitions
Type I Error
Type I Error False Positive Hypothesis Testing Null Hypothesis Statistical Testing
In statistical hypothesis testing, a Type I Error occurs when the null hypothesis is rejected when it is actually true. This incorrect rejection leads to a false positive result.
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Accounting Terms Lexicon

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