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In a Washington Post article on Friday, January 29th, 2016, David Cohen discusses the EEOC’s proposed Equal Pay Report.
In our previous blog on the topic of statistical significance, we discussed how to interpret the meaning of “statistically significant.” In this blog, we want to expand on the topic by discussing the difference between statistical and practical significance.
As mentioned in the previous blog, when a group difference is statistically significant, it only indicates that it is unlikely, but not impossible, that the difference occurred by chance. A larger standard deviation is not an indication of the magnitude of the group difference. However, it is an indicator of the probability that the difference observed may not be due to chance.
Because the values of many statistical tests are driven in part by sampleRead More