On Statistical Testing

The statistical testing approaches of Hypothesis Testing (Fisher) and Significance Testing (Neyman-Pearson) are briefly reviewed. Highly related notions of alpha-values, P-values, and magnitude-of-effect are discussed. A statistical testing approach that is a hybrid of Hypothesis Testing and Significance Testing is then advanced. This approach takes into consideration the two decision-error probabilities as well as an alternative hypothesis characterization of interest.

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