Your CEO has followed your advice and now wants you to measure effect sizes. You report a Pearson's r of 0.50 for the impact of Unblock Me Now drain cleaner on reducing drain blockage time. Your CEO wants to know if this is bad, as she remembers that a p-value of 0.30 is not good. What do you tell her?
A)You tell her that effect size and p-values are the same and that a Pearson's r of 0.50 means there is no statistically significant effect.Unblock Me Now should cease production.
B)You tell her that effect size and p-values are not the same and that a Pearson's r of 0.50 is a large effect, suggesting she should rollout the launch of Unblock Me Now.
C)You tell her that effect size and p-values are not the same and that a Pearson's r of 0.50 is a small effect, suggesting she should stop the launch of Unblock Me Now until more data analysis is done.
D)You tell her that effect size and p-values are not the same and that a Pearson's r of 0.50 is a medium effect, suggesting she should rollout the launch of Unblock Me Now.

Question

Quizplus · Accepted Answer

P-value and effect size are not the same things. An effect size of r=0.50 is generally considered large and suggests that the Unblock Me Now drain cleaner has a substantial impact on reducing drain blockage time. This means that the product is promising, and the CEO should consider moving ahead with the launch of Unblock Me Now.

Your CEO Has Followed Your Advice and Now Wants You