What is considered a key component of the scientific method?

Formulating a hypothesis is a key component of the scientific method because it establishes a testable statement about the relationship between two or more variables. The hypothesis serves as the foundation for further investigation, guiding the research process by providing direction for experiments and observations. It allows scientists to make predictions that can be tested through experimentation, and a well-formed hypothesis is usually based on prior knowledge and theoretical frameworks. Once a hypothesis is proposed, scientists can then proceed to design experiments aimed at testing its validity, making it an essential step in the systematic approach to scientific inquiry.