Statistical Significance
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shobhamurali.
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June 24, 2003 at 4:09 am #32611
SS Friends
How do you define statistical significance? Do you need a value to establish such siginificance? How about high statistical significance?
It appears that people with different training see or understand the mentioned concept very differently.
Your time and knowledge are always appreciated
sape
0June 24, 2003 at 6:26 am #87306Sergei,
My company uses an alpha risk that is less than .05% as being statistically significant.0June 30, 2003 at 11:39 am #87488
Richard KelbaughMember@Richard-KelbaughInclude @Richard-Kelbaugh in your post and this person will
be notified via email.Statistical Significance is associated with inferential statististics, and is defined as being able to see evidence of difference at the accepted risk for a given hypothesis test. In the case of the prior message, with and alpha = .05, that would mean that you can see the difference and be 95% confident of your decision. While the 5% risk level is often used by default, risk levels should reflect the criticality of the process test and your willingness to decide something is defferent when it is really not different (a cost to your company). With an XBar control chart we generally test to slightly over 99% confidence.
0July 1, 2003 at 9:07 am #87528
Kaushik BhattacharyaParticipant@Kaushik-BhattacharyaInclude @Kaushik-Bhattacharya in your post and this person will
be notified via email.Statistical significance is also very important in Model building using Linear Regression Method. Minitab gives Option to the user to set the value for Confidence (1- alpha).
0July 2, 2003 at 4:07 am #87553
shobhamuraliMember@shobhamuraliInclude @shobhamurali in your post and this person will
be notified via email.Systat also gives the option
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