A Result That Is Statistically Significant Might Not Have ______Significance

question 10

Multiple Choice

A result that is statistically significant might not have ______significance. That is, it might not be important in a real world context.

• A) pragmatic
• B) empirical
• C) sensible
• D) practical

---

Definitions:

Demand Curve

A graphical representation showing the quantity of a good that consumers are willing and able to purchase at various prices.

Degree of Elasticity

A measure of how much the quantity demanded or supplied of a good changes in response to a change in its price.

Availability of Substitutes

The presence of alternative goods or services that consumers can use in place of another.

Inelastic

Describes a situation where the demand or supply for a good or service is not significantly altered when the price of that good or service changes.