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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.
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Is statistical significance below or above 0.05?
If the outcome is below or equal to 0.05, then it is statistically significant; above is not.
To decide whether observed differences between samples reflect actual differences between?
statistical significance
How is a point-biserial correlation coefficient tested for statistical significance?
See Terrell, C. D. (1982). Significance tables for the biserial and point biserial. Educational and Psychological Testing, 42, 975-981.
0.02 level of significance what is the critical value?
The critical value for a 0.02 level of significance, denoted as α = 0.02, in a statistical test corresponds to the point on a distribution that separates the critical region (rejection region) from the non-critical region. To find the critical value, you would consult a statistical table or use a statistical calculator based on the specific test you are conducting (e.g., z-table, t-table, chi-square table). The critical value is chosen based on the desired level of significance, which represents the probability of rejecting the null hypothesis when it is actually true.
Why is binomial distribution important?
Binomial distribution is the basis for the binomial test of statistical significance. It is frequently used to model the number of successes in a sequence of yes or no experiments.
