What is the relationship between statistical significance and practical significance?
A) Statistical significance does not equal practical significance.
B) If an outcome is statistically significant,this means that it has practical significance.
C) If an outcome is practical significance,this means that it has statistical significance.
D) Statistical significance and practical significance are really the same thing.

Question

Quizplus · Accepted Answer

Statistical significance refers to the likelihood that an outcome occurred by chance, while practical significance refers to the real-world impact or importance of the outcome. Just because an outcome is statistically significant does not necessarily mean it is practically significant. The level of practical significance depends on factors such as the size of the effect, the context of the study, and the costs and benefits of implementing the findings. Therefore, A is the best choice as it correctly explains the relationship between the two concepts.

What Is the Relationship Between Statistical Significance and Practical Significance