This expository article gives an overview of the theory of hypothesis testing of quantum states in finite dimensional Hilbert spaces. Optimal measurement strategy for testing binary quantum hypotheses, which result in minimum error probability, is discussed. Collective and individual adaptive measurement strategies in testing hypotheses in the multiple copy scenario, with various upper and lower bounds on error probability, are outlined. A brief account on quantum channel discrimination and the role of entangled states in achieving enhanced precision in the task of channel discrimination is given.
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