Define practical significance.
Understand the Problem
The question is asking for an explanation of the concept of practical significance, which refers to the real-world relevance or importance of a statistical finding, beyond just its statistical significance.
Answer
Practical significance refers to the magnitude of the difference, also known as the effect size, which is large enough to be meaningful in real-life situations.
Practical significance refers to the magnitude of the difference, also known as the effect size, which is large enough to be meaningful in real-life situations.
Answer for screen readers
Practical significance refers to the magnitude of the difference, also known as the effect size, which is large enough to be meaningful in real-life situations.
More Information
Practical significance is subjective and context-dependent, meaning what is considered meaningful can vary depending on the situation and audience.
Tips
A common mistake is to confuse statistical significance with practical significance. While statistical significance indicates the likelihood that an observed effect is not due to chance, practical significance assesses the real-world importance of the effect.
Sources
- 6.4 - Practical Significance - STAT ONLINE - online.stat.psu.edu
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