Explain the difference between statistical significance and practical significance. Make up an example to illustrate your reasoning.
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 81% (16 reviews)
Statistical significance means that we have strong evidence that t...View the full answer
Answered By
Shadrack Mulunga
I am a Biochemistry by profession. However, I have explored different fields of study. My quest to explore new fields has helped me gain new knowledge and skills in Business, clinical psychology, sociology, organizational behavior and general management, and Project Management. I count my expertise in Project management, in particular, creation of Work Break Down Structure (WBS) and use of Microsoft Project software as one of my greatest achievement in Freelancing industry. I have helped thousands of BSC and MSC students to complete their projects on time and cost-effectively using the MS Project tool. Generally, I find happiness in translating my knowledge and expertise to success of my clients. So far, i have helped thousands of students to not only complete their projects in time but also receive high grades in their respective courses. Quality and timely delivery are the two key aspects that define my work. All those who hired my services always come back for my service. If you hire my services today, you will surely return for more. Try me today!
5.00+
154+ Reviews
289+ Question Solved
Related Book For
Statistics The Art And Science Of Learning From Data
ISBN: 9780321755940
3rd Edition
Authors: Alan Agresti, Christine A. Franklin
Question Posted:
Students also viewed these Statistics questions
-
What is the difference between statistical significance and practical significance? Can a statistical study have statistical significance, but not practical significance?
-
Discuss the difference between statistical significance and practical significance.
-
When testing a new treatment, what is the difference between statistical significance and practical significance? Can a treatment have statistical significance, but not practical significance?
-
The LEGO company is a perfect example of planning. They carefully crafted the name from two phrases into one word. Besides the name, they also planned how they would make the bricks fit into one...
-
On January 1, 2011, Klinefelter Company purchased a building for $520,000. The building had an estimated life of 20 years and an estimated residual value of $20,000. The company has been depreciating...
-
While constructing funds flow statement, what are the two basic statements?
-
Defining your target market and consumer are important for marketers. What is consumer behaviour? List three issues that are important to study. LO.1
-
Lets assume that over the years, a paper and pencil test of anxiety yields a mean score of 35 for all incoming college freshmen. We wish to deter-mine whether the scores of a random sample of 20 new...
-
A company has already incurred $7800 of costs in producing 6,100 units of Product XY. Product XY can be sold as is for $27 per unit. Instead, the company could incur further processing costs of $11...
-
The audit staff of Adams, Barnes & Co. (ABC), CPAs, reported the following audit findings in their 20X5 audit of Keystone Computers & Networks (KCN), Inc.: 1. Unrecorded liabilities in the amount of...
-
It is more informative and potentially less misleading if you conclude a test by reporting and interpreting the P-value rather than by merely indicating whether or not you reject H0 at the 0.05...
-
An advertisement by Company A says that three of every four doctors recommend pain reliever A over all other brands combined. a. If the company based this claim on interviewing a random sample of...
-
Presented here are the components in Felix Ltds statement of profit or loss. Determine the missing amounts. Sales $195000 $280 800 (a) Cost of sales $ 169 000 $ 186940 Gross profit $113 100 (c) $284...
-
On March 1 , Kerr Corporation issued 1 0 , 0 0 0 preferred shares for $ 1 0 0 per share. On July 1 5 , it issued an additional 3 0 , 0 0 0 shares for $ 1 2 0 per share. Each share is convertible into...
-
Hello, I need to calculate the break-even point in part B using the following formula: investment amount / (CLV of gold - CLV of platinum) . However, since that results in a negative value, does that...
-
Nervousness and depression are examples of __________ symptoms. psychophysiologic social health environmental psychological Roberta is using the structured format to present the results of his study...
-
Identify the stage of change the client is in and write in behavioral language at least one problem, with at least one goal and a minimum of two objectives for each goal for the client vignettes...
-
Photon Technologies, Inc., a manufacturer of batteries for mobile phones, signed a contract with a large electronics manufacturer to produce three models of lithium-ion battery packs for a new line...
-
Which types of volcanoes erupt quietly? Which erupt most explosively?
-
Write the statement to store the contents of the txtAge control in an Integer variable named intAge.
-
Discuss the relative merits of the different methods described in 16. 4 for the publication of the results of a management audit report. Data from 16. 4 Management audits were introduced in the...
-
According to the Open Doors Report, 9.5% of all full-time U.S. undergraduate students study abroad (Institute of International Education, November 14, 2011). Assume that 60% of the undergraduate...
-
According to the Open Doors Report, 9.5% of all full-time U.S. undergraduate students study abroad (Institute of International Education, November 14, 2011). Assume that 60% of the undergraduate...
-
An oil company purchased an option on land in Alaska. Preliminary geologic studies assigned the following prior probabilities. P(high-quality oil) = .50 P(medium-quality oil) = .20 P(no oil) = .30 a....
-
1. Why might managers of small restaurants decide not to adopt the standard work hour approach to controlling labour cost? (minimum 150 words )
-
Which statement is true regarding the U.S. GAAP impairment test for limited life intangibles? A. U.S. GAAP impairment is likely to be greater than IFRS impairment. B. The impairment test for limited...
-
Which of the following is a limitation of both return on investment and residual income? A. Favors large units. B. There is disincentive for high return on investment units to invest. C. Can lead to...
Study smarter with the SolutionInn App