Statistical and practical signficance

Reference no: EM13109795

Statistical vs. practical signficance

Consider the following statement and discuss its implications. 'It is possible for a statistically significant result to be of no particular practical significance, depending on the context of the analysis.'

a. Use a concrete example to illustrate your point(s).

b. Explain the difference between significance in a statistical sense and significance in a practical sense.

c. How does this apply or could apply to your workplace or home?

d. How does this apply or could apply to your daily use, business use, or personal use?

Reference no: EM13109795

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