Statistical significance is a critical concept in data analysis and research. In essence, it’s a measure that allows researchers to assess whether the results of an experiment or study are due to ...

It’s too often misused and misunderstood. by Amy Gallo When you run an experiment or analyze data, you want to know if your findings are “significant.” But business relevance (i.e., practical ...

Many bankers hear the term “Statistical Significance” but don’t know what it means and how it is relevant to potential fair lending violations. Typically, when an examiner is evaluating if a bank is ...

Citations: McShane, Blake, Andrew Gelman. 2022. Selecting on Statistical Significance and Practical Importance Is Wrong. Journal of Information Technology. (3)312-315.

In the middle of the 20 th century, the field of psychology had a problem. In the wake of the Manhattan Project and in the early days of the space race, the so-called “hard sciences” were producing ...