Statistics

Interview question

midlevel
5 minsuggested time
2Data scientist, Data analyst

A pricing test on one airline route returns p = 0.03 for the difference in conversion between two fare displays. A product manager says: "So there is a 97% chance the new display is better." How do you respond?

Tests: Correct interpretation of a p-value, the difference between statistical and practical significance, and the habit of reporting an effect size with an interval.

day 4