Explain statistical significance and practical significance

Reference no: EM13109721

Why is statistical significance not necessarily of practical important difference to a business decision? Provide an example and explain. Why do statisticians play only a limited role in deciding whether statistical significance requires a business action?

Reference no: EM13109721

Questions Cloud

Develop free and independent trade union : Give your assessment of the requirements for Cuba to develop a free and independent trade union. Determine if it is essential for a free society.

Which is wild type for ebony mating with a true breeding : Scalloped (sd) wing is an X-linked recessive and ebony (e) body color is an autosomal recessive mutation in Drosophila. What proportion of scalloped, normal body colored males is expected in the F2 starting with a true breeding scalloped female wh..

What will be the phenotypes of the progeny : Chickens have ZZ-ZW sex determination. The bar-feathered phenotype in chickens results form a Z-linked allele that is dominant over the allele for nonbar feathers. If a barred female is crossed with a non-barred male, what will be the phenotypes o..

Characteristics of heroism-what makes a person a hero : Write an essay about Napoleon Bonaparte using the structure and persistence is another quality commonly shared by heroes. In one 2010 study, researchers found that people identified as heroes were more likely to put a positive spin on negative even..

Explain statistical significance and practical significance : Why is statistical significance not necessarily of practical important difference to a business decision? Provide an example and explain.

How many types of double crossovers : Crossover events may occur between two loci but are undetected due to a double-crossover event. Explain what a double crossover is and how they might cause problems for geneticists. How many types of double crossovers are possible between two dihy..

Discussion on public sector bargaining law : Explain why some states do and other states don't have a public-sector bargaining law or laws that cover some public employees but not others.

How many genes are involved in the growth : How many genes are involved in the growth behavior phenotype, and what must the genotypes in the cross be? Assume recessive loss-of function mutations are involved.

Determine the probabiliyt of type two error : Assume you always reject null hypothesis, regardless of any sample evidence. Determine the probabiliyt of Type II error? P(Type II error).

User Account

All Pages