Two students were walking out of statistics class one day. One was grinning ear to ear and the other was frowning woefully. The one that was grinning said, " Boy the instructor sure gave an inspired lecture on hypothesis testing today. He said that out of the four outcomes that can occur when you test the null hypothesis, two are correct decisions and two are errors. He praised this procedure as the Holy Grail of statistical analysis."
The other student looked at his classmate in dismay. He stated, "Well I certainly was not impressed with his lecture and totally disagree with him. ANY STATISTICAL PROCEDURE FOR MAKING A CORRECT DECISION THAT IS NO BETTER THAN FLIPPING A COIN IS PRETTY BAD!!!"
*This discussion would make Neyman turn over in his grave. Please Sir Ronald don't force me to reject or not reject my joke!!!
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