Solved: Difference between statistical and practical significance, Basic Statistics

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Difference between statistical and practical significance

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Q: Hypothesis testing determines if results are statistically significant. However, marketing managers want to know if research results are practically significant. What is the difference between these two concepts? How does a researcher explain the difference to a manager? Can the size of a sample affect the difference between statistical and practical significance? If so, explain how.

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Basic Statistics: Difference between statistical and practical significance

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