Developing the hypothesis
A hypothesis is your best guess about what the outcome will be. You form your initial hypothesis based on the question, conversations with stakeholders, and also by looking at the data. You may form one or more hypotheses for a given problem. This initial hypothesis serves as a roadmap that guides you through the exploratory analysis. Developing a hypothesis is very important to statistically approve or not approve a statement, and not just by looking at the data as a data matrix or even through visuals. This is because our perception built by just looking at the data may be incorrect and rather deceptive at times.
Now you know that your final result may or may not prove the hypothesis to be correct. Coming to the case study we have considered for this lesson, we arrive at the following initial hypotheses:
Award winners are mostly white
Most of the award winners are from the USA
Best actors and actresses tend to be younger than best directors
Now that we have formalized...
