Question

Which best illustrates the distinction between statistical significance and practical importance?

Answer #1

“Every user of statistics should understand the
distinction between statistical significance and practical
importance. A sufficiently large sample will declare very small
effects statistically significant.”
In general, a population of elite female Canadian
athletes were believed to be consuming an average 2403.7 kcal/day
with population s.d. = sigma= 880 kcal/day. A nutritionist
implemented a new diet among a sample of these athletes. Under the
new diet, the sample of athletes had average daily intake of
x-bar=2453.7 kcal/day. The standard deviation...

Which of the following best applies to the distinction between
the "long-run" and the "short-run"? A. the short-run is a period of
approximately 1-6 months while the long-run is any time frame which
is longer. B. in the short-run, only new firms may enter, while in
the long-run, firms may either enter or exit the market. C. the
rationing function of price is a short-run phenomenon whereas the
guiding function is a long-run phenomenon. D. all of the above

When testing a new treatment, what is the difference between
statistical significane and practical significane? Can. treatment
have statistical significane, but not pratical significane

What is the difference between statistical significance and
clinical significance? Provide a short explanation.

Explain the difference between statistical significance and
economic significance. Give an example from the chapter where a
variable is statistically significant but not economically
significant.

Which of the following best describes the ? level in statistical
testing?

Shopping at the clothing store Abercrombie & Fitch instead
of Ann Taylor best illustrates which of the following?
a. differentiation by style or type
b. differentiation by location
c.
differentiation by quality
d.
homogeneous products
e.
high barriers to entry

A report by the Collaborative on Academic Careers in Higher
Education indicated that there is a notable gap between female and
male academics in their confidence that tenure rules are clear,
with men feeling more confident. The 4500 faculty members in the
survey were asked to evaluate policies on a scale of 1 to 5 (very
unclear to very clear). The mean response about the criteria for
tenure was 3.51 for females and 3.55 for males, which was indicated
to...

A report by the Collaborative onAcademic Careers in Higher
Education indicated that there is a notable gap between female and
male academics in their confidence that tenure rules are clear,
with men feeling more confi-dent. The 4500 faculty members in the
survey were asked to evaluate policies on a scale of 1 to 5 (very
unclear to very clear). The mean response about the criteria for
tenure was 3.51 for females and 3.55 for males, which was indicated
to meet...

A report by the Collaborative on Academic Careers in Higher
Education indicated that there is a notable gap between female and
male academics in their confidence that tenure rules are clear,
with men feeling more confident. The 4500 faculty members in the
survey were asked to evaluate policies on a scale of 1 to 5 (very
unclear to very clear). The mean response about the criteria for
tenure was 3.51 for females and 3.55 for males, which was indicated
to...

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