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What is Statistical Significance

Chapter 264
Encyclopedia of Distance Learning, Second Edition
A measure of how confident you are that the result you got did not happen by chance alone. It is not an indicator of how meaningful the result you found is. With enough data you can be very confident that you found something very unimportant.
Published in Chapter:
Return on Investment in Training
Tad Waddington (Accenture, USA)
Copyright: © 2009 |Pages: 6
DOI: 10.4018/978-1-60566-198-8.ch264
Abstract
In 1992, the economist, Gary Becker, won the Nobel prize for his work that demonstrated the importance to organizations of human capital and of training, in particular. Despite the importance of human capital to the long-term health and growth of organizations, they continue to under-invest in training (Becker, 1993). In The Human Equation, Jeffrey Pfeffer (1998) explained why, “Training is an investment in the organization’s staff, and in the current business milieu, it virtually begs for some sort of return-on investment calculations” (p.89). In other words, because organizations do not adequately measure the value that training adds, they fail to reap the benefits of fully investing in training. This article shows you how to measure your return on investment in training.
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Chapter 13
Recent Studies and Research on Sickle Cell Disease: Statistical Analysis and Machine Learning Approach
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Chapter 2
Actionable Knowledge Discovery
A pattern mined is statistically significant based on statistical metrics that measure and evaluate the performance of an identified pattern.
Published in Chapter: Actionable Knowledge Discovery; From: Encyclopedia of Information Science and Technology, Second Edition
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Chapter 6
An Analysis of Gender Inequality in Professional Tennis: A Study of the Cozening Sport
The claim that a result from data generated by testing or experimentation is not likely to occur randomly or by chance; instead, it is likely to be attributable to a specific cause.
Published in Chapter: An Analysis of Gender Inequality in Professional Tennis: A Study of the Cozening Sport; From: Applied Econometric Analysis: Emerging Research and Opportunities
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Chapter 10
The Impact of Military Spending on Economic Development: A Study of the Indian Economy
Statistical significance means that a result from testing or experimenting is not likely to occur randomly or by chance, but is instead likely to be attributable to a specific cause.
Published in Chapter: The Impact of Military Spending on Economic Development: A Study of the Indian Economy; From: Handbook of Research on Military Expenditure on Economic and Political Resources
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Chapter 9
Regional Competitiveness: Theoretical and Empirical Aspects
Implies the decision whether the observed relationship between two or more variables was created by the action of a case or was created by the action of some experimental factor. In the social sciences, it is common to use a significance level of 0.05. This practically means that there is a 5% probability that the observed relationship between the variables is due to the action of the case. If 5% is considered to be a large value, a significance level of 0.01 (1%) can be selected. The level of significance is denoted by a, the Greek letter alpha.
Published in Chapter: Regional Competitiveness: Theoretical and Empirical Aspects; From: Disruptive Technologies and Eco-Innovation for Sustainable Development
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