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Earn +20 ptsQ: Is illusory correlation statistically significant
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Result being Statistically Significant or not statistically significant?
"Statistically significant" means that the result is beyond the element of chance.
Illusory correlation refers to?
the perception of a relationship between two variables that does not actually exist.
What is a statistically significant result?
A result is statistically significant if:it is unlikely to have occurred by chance
If it is statistically significant does that automatically mean it is managerially significant?
No, it is not.
What type of research describes the strenghth and direction of relationships between two variables?
Correlation analysis. But you will need a lot more knowledge of statistics before you can decide whether the result is [statistically] significant or not, and if it is, what that means.
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