Statistical significance and practical significance

Assignment Help Basic Statistics

Reference no: EM13106384

What is the difference between statistical significance and practical significance? Why is statistical significance not necessarily of practical important difference to a business decision? Provide an example of this.

Reference no: EM13106384

Questions Cloud

Prepare an implementation plan for change : Prepare an implementation plan for change that would enable Gar Finnvold to create a fully competitive computer service within two years. Review the list of possible interventions below as you develop an implementation plan for NCO.

Vertical integration method to minimize channel conflict : 3D-Magic is a new company that has developed a revolutionary 3D television. It uses a new technology that provides a much sharper and realistic 3D experience than their competitors.

How many megajoules of energy are produced : Burning a pound of coal produces about 13,000 Btu of energy. How many megajoules of energy are produced by burning 4 pounds of coal?

Changes united states made treatment of muslim-arabic member : According to research and news reports in the past 2 years, write down some of the changes the United States has made to policies concerning treatment of Muslim and Arabic members of society?

Statistical significance and practical significance : What is the difference between statistical significance and practical significance? Why is statistical significance not necessarily of practical important difference to a business decision?

Find the downward acceleration of m2 mass : The string connecting the m1 and the m2 passes over a light frictionless pulley. Given m1 = 1.77 kg, m2 = 7.24 kg, m3=2.23 kg, and g = 9.8 m/s2. The acceleration of gravity is 9.8 m/s2 . Find the downward acceleration of m2 mass.

Advantages and disadvantages of entrepreneurial ventures : Many entrepreneurs enter the global market for a variety of reasons. Why is it important for entrepreneurs to learn to think globally? What are the advantages and disadvantages of entrepreneurial ventures to move into the global marketplace?

Find the electric force on the proton : A proton is at the origin and an electron is at the point = 0.45 , = 0.31 . Find the electric force on the proton.

Question based on marketing strategies : Travelmania Inc. is a new, Internet based travel agency specializing in customized exotic and adventure travel. The company has limited resources and very low level of awareness in the market.

User Account

All Pages