What is Hypothesis and it's types?

Hypothesis is an important concept to understand in the field of statistics. It's a probability statement that can be made with a finite, specific, and (usually) small number of observations. We use it all the time in real life, on an individual level and more specifically in science, business etc.

The three most common types of hypothesis are:
1. Single null hypothesis
2. Single research hypotheses
3. Multiple research hypotheses.