Developing Intuition: “Statistically Significant” or “By Chance”?
Statistical tests are used to determine how likely are observed relationships between two variables or groups, not a result of some random guess, luck, erratic fluctuations, random noise or sampling error, but due to the fact that they really are related to one another. It is a mathematical way of stating if we have enough evidence to reject a ‘thought’(or in statistical jargon, a ‘Hypothesis’) that a certain relationship between two variables just happened by chance.
Figure Source: Agresti and Franklin, Statistics: The Art and Science of Learning from Data (p. 468)
Read More »Tags: explaining toughest concept in simple words