Elementary Statistics (12th Edition)

Published by Pearson
ISBN 10: 0321836960
ISBN 13: 978-0-32183-696-0

Chapter 1 - Introduction to Statistics - 1-2 Statistical and Critical Thinking - Basic Skills and Concepts: 14

Answer

There is statistical significance and practical significance.

Work Step by Step

This kind of significance refers to the unlikelihood of something, therefore there is statistical significance. The statement says that a 1% chance that such extreme results would occur if the method had no effect. The difference is large enough to be valued, therefore there is practical significance.
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