Statistics

Introduction

Statistics is a feature of the TandaPay Simulation which allows you to get more precise answers than basic simulation runs. If you're trying to experiment with a specific set of initial values, and you want to get more detailed information about the simulation's outcomes with these values, Statistics can help you with that.

Inputs

All inputs specific to statistics can be found in the settings menu. They are as follows:

Trial Sample Size: The sample size to use for each trial. We'll be doing multiple trials. (Recommended: 100)

Trial Count: How many trials we will be doing. Do not go below 30 or your results will not be accurate. (Recommended: >=30)

Alpha: This value is used for both confidence intervals AND hypothesis testing. So, if alpha=0.05, you will see 95% confidence intervals, and hypothesis tests will have a margin of error of 5%.

Test Type: Here, you can specify what type of hypothesis test you want to perform. You can either perform a Two Tailed, Greater, or Less than test.

Outcome to test: This is the actual outcome (wins/losses/draws) that you want to test with your hypothesis test.

Value to test: This is the value you want to test against in the hypothesis test.

Outputs

Gives you statistics for every variable that is detailed in regular Simulation Runs. This includes the mean, standard deviation, and confidence intervals (using the alpha you selected in settings).

At the bottom, the hypothesis tests section can be seen. It will tell you the p-value, and it will reject the null hypothesis only if the p-value is less than the alpha you selected.