Sequential testing is a statistical method that allows for the evaluation of data as it is collected, rather than waiting for all data to be gathered before analysis. This approach enables researchers to make decisions or adjust hypotheses in real-time, potentially reducing the number of observations needed and increasing the efficiency of the study.
The likelihood ratio is a statistical measure used to compare the probability of observed data under two different hypotheses, often the null and alternative hypotheses. It is a crucial tool in hypothesis testing and model selection, helping to assess the strength of evidence against the null hypothesis.
The Holm-Bonferroni Method is a statistical technique used to control the family-wise error rate when performing multiple hypothesis tests. It is a stepwise method that sequentially adjusts p-values, providing a more powerful alternative to the traditional Bonferroni correction by allowing for a less conservative adjustment.