"Here's a good option for us, Spencer," remarked Tasha. "This school has tuition and fees which are much lower than the national average."
"Yes," said Spencer, "and if I calculate a p-value, I get 1%. But think about this. If we wanted to come home for breaks and summer vacation, we won't be able to drive, and we'll need to factor in the additional airfare costs."
Rate the following statements as True or False.
This school has statistical significance but not practical significance.
The availability of air travel makes attending this school practically significant.
?A p-value of 1% relates to the statistical significance.