Statistical significance is determined through the use of hypothesis testing. However, statistical significance is different than practical significance. What is the difference between the two concepts? How would you explain the differences to a superior? What effect does sample size have on practical and statistical significance? Please elaborate.
Consider the following prompts for your response to a fellow learner:
•Describe a situation from your experience in which the researcher had to reconcile differences between statistically and practically significant results. Describe the challenges encountered and strategies employed.
•Provide examples or references that either support or refute the approach taken in the post.
•Assume you are making a presentation to nonresearchers. How would you differentiate practical and statistical significance? How would you explain the rationale for choosing one over the other?
•Describe how the trust between the researcher and manager may affect the way information is presented or even the selection of an approach.
References:
Books
Aaker, D. A., Kumar, V., Leone, R. P., & Day, G. S. (2013). Marketing research (11th ed.). Hoboken, NJ: Wiley. ISBN: 9781118156636.
Discussion Participation Grading Rubric Criteria Non-performance Basic Proficient Distinguished
Applies relevant course concepts, theories, or materials correctly. Does not explain relevant course concepts, theories, or materials. Explains relevant course concepts, theories, or materials. Applies relevant course concepts, theories, or materials correctly. Analyzes course concepts, theories, or materials correctly, using examples or supporting evidence.
Collaborates with fellow learners, relating the discussion to relevant course concepts. Does not collaborate with fellow learners. Collaborates with fellow learners without relating discussion to the relevant course concepts. Collaborates with fellow learners, relating the discussion to relevant course concepts. Collaborates with fellow learners, relating the discussion to relevant course concepts and extending the dialogue.
Applies relevant professional, personal, or other real-world experiences. Does not contribute professional, personal, or other real-world experiences. Contributes professional, personal, or other real-world experiences, but lacks relevance. Applies relevant professional, personal, or other real-world experiences. Applies relevant professional, personal, or other real-world experiences to extend the dialogue.
Supports position with applicable knowledge. Does not establish relevant position. Establishes relevant position. Supports position with applicable knowledge. Validates position with applicable knowledge.
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