In order to prevent misleading conclusions based on spurious observed effects--especially seductively large ones--Robinson and Levin (1997) suggested a two-step approach to the reporting and ...

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 ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

At times we wish to examine statistical evidence, and determine whether it supports or contradicts a claim that has been made (or that we might wish to make) concerning the entire population. This is ...

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

Instead of recognizing the limitations of statistical significance, fields including economics and medicine ossified around it, with dire consequences for science. In the 21st century, an obsession ...