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Discuss the issues of statistical significance and practical importance in each scenario. A process for producing I-beams of oriented strand board used as main support

Discuss the issues of statistical significance and practical importance in each scenario.

  1. A process for producing I-beams of oriented strand board used as main support beams in new houses has a mean breaking strength of 2,000 pounds/feet. A sample of boards from a new process has a mean breaking strength of 2,150 pounds/feet. The improvement is statistically significant, but the per-unit cost is higher. In what scenario would this matter, if any?
  2. Under continuous use, the mean battery life in a certain cell phone is 45 hours. In tests of a new type of battery, the sample mean battery life is 46 hours. The improvement is statistically significant, but the new battery cost more to produce. When this improvement make sense and at what price?

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