1. For a result to be statistically significant means that the probability of the results observed been due to chance is very low or impossible. For a result to be statiscally significant means that the differences observed between the experimental group and the control group of the experiment is not due to chance or sampling errors.
Practical significance refers to how practical it is to convert a result observed in the laboratory to use in real world scenario. The difference observed between two variables in an experimental set up may be so small that it may not be worth it to produce it on a large scale for human use.
Thus, the difference between statistical and practical significance is that statistical significance indicates the difference between two variables while practical significance determines if the results is worth been reproduce on large scale.
2. YES, a treatment can have statistical significance but have no practical significance. This means that, even though the treatment is effective, due to some reasons it is not worth it or practical to produce it on a large scale.
If you sold a tangible asset you owned for $1,000 and used
the money to pay off your credit card balance for $1,000, then your net worth
would remain the same.
To add, the concept applicable to individuals and
businesses as a key measure of how much an entity is <span>worth is called net worth.</span>
Answer:
Conduct a one-time thorough market analysis on all wireless devices so that IPT and management have a complete understanding of the intricacies related to the wireless market.
Explanation:
A market research of this nature and gravity requires a careful and in depth market analysis of the product in question. It needs to be thorough and the usually adopted 7 - step market analysis protocaloncouls be taken which involves research purpose identification and planning, well ouined objective of the research. Then we can start the design plan to be adopted, sample selection which fits tbe aim and objective of the research on kyher to produce good outputs, data collection follows and finally analysis of gathered data, refinement and the conclusion is drawn and the compilation of report for presentation to management and IPT.
Commodity money is money that has a value of its own. For example, gold and silver along with other metals was given a value dependant on it's purity and weight along with what gold was worth at the time
Answer:
likelihood that disputes will arise under their contract is reduced.
Explanation:
One of the advantages of entering into a partnering agreement is that the likelihood that disputes will arise under their contract is reduced. This is mainly due to the fact that the agreed upon contract contains all the rules and regulations that both entities have agreed to follow. Therefore if there is any difference in decision the contract can be brought up and must be followed.
