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Statistical Significance versus Practical Significance

Chapter 1, Problem 1BSC

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QUESTION:

Problem 1BSC

 

Statistical Significance versus Practical Significance What is the difference between statistical significance and practical significance? Can a statistical study have statistical significance, but not practical significance?

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QUESTION:

Problem 1BSC

 

Statistical Significance versus Practical Significance What is the difference between statistical significance and practical significance? Can a statistical study have statistical significance, but not practical significance?

ANSWER:

Answer :

Step 1 of 1 :

Statistical significance : is the likelihood that a relationship between two or more variables is caused by something other than random chance. Statistical hypothesis testing is used to determine whether the result of a data set is statistically significant.

Practical significance : the res

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