Sequential Analysis: We seen that in NP theory of testing hypothesis or in the parametric test n is the sample size and is regarded as fixed and the value of α fixed , we minimize the value of β. But in the sequential analysis theory invented by A Wald in sequential analysis n is the sample number is not fixed but the both values α and β are fixed as constant. Sequential Probability Ratio Test: (SPRT):
To make statistics simple and accessible for everyone!