When do you say the difference between two numbers is statistically significant?
A)as long as the two numbers are not exactly the same
B)if the difference is large enough so that it is managerially important
C)if the difference is mathematically different
D)if the difference is observed over an extended period of time
E)if the difference is large enough to be unlikely to have occurred because of chance or sampling error

Question

Quizplus · Accepted Answer

Statistically significant difference means that the difference between two numbers is unlikely to have occurred by chance or sampling error. This is determined by conducting hypothesis testing with a chosen level of significance (usually 0.05 or 0.01). The size of the difference or the length of time it is observed may not necessarily make it statistically significant; it depends on the level of variability and sample size in the data.

When Do You Say the Difference Between Two Numbers Is