Minimizing Type I and Type II Error
There’s much more subjectivity in statistics than we give it credit for. All of the mathematical variables put in place are based upon assumptions. One of the most important assumptions made during the AB Testing process is the risk tolerance. 0% risk is an impossibility in the world of statistics, and, generally speaker, less risk equates to more time and money. It’s a careful balancing act between minimizing risk and maximizing resources.
If you’re not familiar with statistics, the error terms being thrown around can