Hypothesis Testing: A systematic way to select samples from a group or population with the intent of making a determination about the expected behavior of the entire group.
Correlation: The existence of a relationship between two or more variables or factors where dependence between them occurs in a way that cannot be attributed to chance alone.
A/B Testing, or “Split Testing” as it is also known, can be one of the most useful and powerful tools available for CRO, when used correctly.
A type of hypothesis testing where multiple variables are tested simultaneously to determine how the variables and combinations of variables influence the output. If several different variables (factors) are believed to influence the results or output of a test, multivariate testing can be used to test all of these factors…
A term used to describe test methods or algorithms that continuously shift traffic in reaction to the real-time performance of the test.
Confidence Interval: A range of values calculated such that there is a known probability that the true mean of a parameter lies within it.
Confidence Level: The percentage of time that a statistical result would be correct if you took numerous random samples.
Margin of Error: An expression for the maximum expected difference between the true population parameter and a sample estimate of that parameter.
Sample Size: The number (n) of observations taken from a population through which statistical inferences for the whole population are made.