Statistical significance is a critical concept in data analysis and research. In essence, it’s a measure that allows researchers to assess whether the results of an experiment or study are due to ...

It’s too often misused and misunderstood. by Amy Gallo When you run an experiment or analyze data, you want to know if your findings are “significant.” But business relevance (i.e., practical ...

It may be common knowledge that p < .05 indicates statistical significance. Psychology students (and others) are often taught that p < .05 means the probability (p) of rejecting the null hypothesis ...

The perennial question facing all banks is, “What volume of lending in Majority-Minority census tracts and mortgages extended to minority home borrowers must we do to avoid redlining allegations by ...

Citations: McShane, Blake, Andrew Gelman. 2022. Selecting on Statistical Significance and Practical Importance Is Wrong. Journal of Information Technology. (3)312-315.

In the middle of the 20 th century, the field of psychology had a problem. In the wake of the Manhattan Project and in the early days of the space race, the so-called “hard sciences” were producing ...