Using Statistics

Statistical Power

Statistical Power: The probability that a test of significance will recognize an effect that is present.

DATEDIF: A spreadsheet function that calculates the number of days, months, or years between two dates.

VLOOKUP: A spreadsheet function that vertically searches for a certain value in a column to return a corresponding piece of information.

Regular expression (RegEx): A rule that says the values in a table must match a prescribed pattern.

Mandatory: A data value that cannot be left blank or empty.

Hypothesis testing

Hypothesis testing: A process to determine if a survey or experiment has meaningful results.

Statistical significance: The probability that sample results are not due to random chance.

Confidence interval: A range of values that conveys how likely a statistical estimate reflects the population.

Confidence level: The probability that a sample size accurately reflects the greater population.

Margin of error: The maximum amount that the sample results are expected to differ from those of the actual population.

A/B testing: The process of testing two variations of the same web page to determine which page is more successful at attracting user traffic and generating revenue.