One useful tool for evaluating the practical importance of an observed result is the
A) statistical significance test.
B) statistical power analysis.
C) binomial effect size display.
D) Type I vs. Type II ratio.

Question

Quizplus · Accepted Answer

The binomial effect size display (BESD) is a useful tool for evaluating the practical importance of an observed result because it helps in understanding the magnitude of an effect in a more intuitive way, by showing the difference in outcomes between two groups in a binary context. This contrasts with statistical significance tests, which only tell us if an effect is likely not due to chance, and statistical power analysis or considerations of Type I vs. Type II errors, which are more about the design of a study and its ability to detect effects or avoid false positives/negatives.

One Useful Tool for Evaluating the Practical Importance of an Observed