what is the significance of statistical investigation to management information?
Practical significance refers to the relevance of the study to the question at hand. Statistical significance refers to results of a computation to determine whether a certain event is due to chance.
It represents unity.
There is no statistical significance in the result.
look for a paper being published in "The Oncologist" later this year (2008)
Statistical significance refers to when a statistical assessment of observations reveals a pattern rather than random chance. In simpler terms it means when well observing or recording a set of data you recognize that somethings happens all or most of the time rather than by random.
The level of significance; that is the probability that a statistical test will give a false positive error.
An econometric model is a way of determining the strength and statistical significance of a hypothesized relationship.
If the outcome is below or equal to 0.05, then it is statistically significant; above is not.
The z-score is a statistical test of significance to help you determine if you should accept or reject the null-hypothesis; whereas the p-value gives you the probability that you were wrong to reject the null-hypothesis. (The null-hypothesis proposes that NO statistical significance exists in a set of observations).
Statistical significance means that you are sure that the statistic is reliable. It is very possible that whatever you conclusion or finding is, it may not be important or it not have any decision-making utility. For example, my diet program has a 1 oz weight loss per month and I can show that is statistically significant. Do you really want a diet like that? It is not practically significant