Question: Statistical versus practical significance. A study with 7500 subjects reported a result that was statistically significant at the 5% level. Explain why this result might

Statistical versus practical significance. A study with 7500 subjects reported a result that was statistically significant at the 5% level. Explain why this result might not be particularly large or important.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Business Statistics Communicating Questions!

A bird population on a certain island has been growing exponentially. If the initial population was 2,000 and the population grew to 14,000 after 3 years, what's the doubling time?

Another two-sample t confidence interval. Assume x1 = 100, x2 = 120, s1 = 10, s2 = 12, n1 = 10, and n2 = 10. Find a 95% confidence interval for the difference in the corresponding values of using...

An insulating glass window is constructed of two 5-mm glass plates separated by an air layer having a thickness of 4 mm. The air layer may be considered stagnant so that pure conduction is involved....

Alcor Pharma just received revenues of $3,165,300 in Australian dollars (A$). Management has the following exchange rates: A$1.5490/ and $1.5906/. What is the U.S. dollar value of the companys...

Which of the following items of information are required to be included in interim reports for each operating segment? ( 1 . ) Revenues from external customers ( II . ) Segment profit or loss ( III ....

Assume your college or university is considering replacing its mainframe computer. Its current mainframe computer is now 15 years old and has been creating problems for some time. The cost of a...