What level of statistical significance is meaningful?
Although statisticians conventionally take 95% confidence as the benchmark, this is arbitrary. One would probably want to have 99.9% confidence that one’s food is safe. In preparing for a picnic, one might well accept 50% confidence that it won’t rain. Job seekers routinely accept 1% confidence or less in submitting resumes.
Related Questions
- What is the smallest significance level, when applied to the entire family of comparisons, at which this particular comparison will be deemed statistically significant?
- How will I identify the level of significance and how will i determine the statistical test(hypothesis testing?
- What is the difference between statistical significance and effect size?
