We all know about the importance of hypothesis testing in the science world.
Ok! I can sense some uneasiness in the room š
Do not worry. We are not going to talk about boring science experiments here.
We are just going to borrow the word from them and use it to illustrate its importance.
Now, as I gain more experience in the corporate world, one thing is beginning to stand out. You need to know what you are looking for. Or at least have an idea. This idea can change. In many cases, it will change.
So where is the connection then to having a hypothesis?
In today’s business world, there are many software out there that make our lives easier. However, in many cases, it is more or less garbage in garbage out. You get what you give.
So how can you avoid the “garbage in garbage out” syndrome and make sure you stand out in the workplace?
Well, you need to make sure you move from just running the simulation or working with the software to a combination of understanding the software and also being vast in the interpretation of the results. Remember, you could rightfully draw logical conclusions on the wrong output.
This is where having a hypothesis comes in.
Having a hypothesis is powerful in the sense that it prevents you from making conclusions on the wrong output, which could have severe consequences on your reputation for instance.
Let us look at an example.
Would bring in the old enemy here ā maths. But trust me, it would be easy to follow.
Let us assume that I have a linear equation:
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