Week 4 Confidence Intervals 2 - between two treatments....

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I really like how the first link pointed out the difference between statistically significant and practically important. It is very important that we do not confuse these two concepts because a significantly statistical difference does not automatically imply practical importance. The example given is for a medical treatment. Findings will often state that there is no difference
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Unformatted text preview: between two treatments. Although there may be a statistical difference found in the treatment, it is not practically important to the patient or their health. Another important difference in terminology to be recognized is that 95% confidence is not the same as a 95% probability....
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This note was uploaded on 03/26/2012 for the course STATISTIC GM533 taught by Professor Henry during the Fall '10 term at Keller Graduate School of Management.

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