Researchers can avoid the pitfall that traps many in the industry by understanding the difference between ___________ significance and ___________ significance.
A) objective; subjective
B) quantitative; qualitative
C) statistical; managerial
D) statistical; practical
E) relevant; irrelevant

Question

Quizplus · Accepted Answer

Statistical significance refers to the likelihood that a result is not due to chance, while practical significance refers to the real-world importance or relevance of the result. It is important for researchers to understand both types of significance in order to make informed conclusions and decisions based on their findings. However, focusing solely on statistical significance can lead to overemphasis on small but statistically significant effects that may not be practically significant or meaningful in real-world settings. Therefore, understanding the difference between statistical and practical significance is crucial for researchers to avoid this pitfall.

Researchers Can Avoid the Pitfall That Traps Many in the Industry