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Discover the definition of statistical significance, learn how to calculate statistical significance using p-value, and understand when something is statistically significant. Related to this Question Statistical testing is the means by which the effects of what are estimated?
But hold on—before you start stocking up on Blend A, you run a statistical test and find that this difference is statistically significant at the 0.05 level. What does that really tell you? What this means is that, given the sample size, you can be fairly confident that Blend A is ...
A marketing study conducts 60 significance tests about means and proportions for several groups. Of them, 3 tests are statistically significant at the 0.05 level. The study's final report stresses only the tests with significant results, not mentioning th What type of study is this? Experimental?
In normal English, "significant" means important, while in Statistics "significant" means probably true (not due to chance). A research finding may be true without being important. When statisticians say a result is "highly significant" they mean it is very probably true. They do not (...
Another big problem that can occur is when a company assumes that because a correlation is statistically significant, it means there must be a strong association. But this is not always the case. The relationship can be statistically significant and still have a weak association. ...
A level of significance is a value that we set to determine statistical significance. This ends up being the standard by which we measure the calculated p-value of our test statistic. To say that a result is statistically significant at the level alpha just means that the p-value is less ...
When a regression coefficient is significant at the 0.05 level, it means that A. there is only a 5% chance that there will be an error in a forecast. B. there is a 95% chance that the regression coefficient is the true population coefficient. C. the...
A one-way ANOVA evaluates the impact of a single factor on a sole response variable. It determines whether all the samples are the same. The one-way ANOVA is used to determine whether there are any statistically significant differences between the means of three or more independent groups. ...
An alternative hypothesis is a direct contradiction of a null hypothesis. This means that if one of the two hypotheses is true, the other is false. The Bottom Line A null hypothesis states there is no difference between groups or relationship between variables. It is a type of statistical hyp...