Why Should You Calculate an Effect Size

question 15

Multiple Choice

Why should you calculate an effect size?

• A) because you found statistical significance
• B) because effect size represents the practical significance of a finding
• C) because significance may be difficult to interpret for large samples
• D) all of these

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Definitions:

Narrow, Deep Assortment

Strategy that involves stocking a lot of different items within a single product category.

Quick Response

A strategy or system aimed at increasing efficiency and reducing response times, often used in supply chain management and manufacturing.

Just-in-time Delivery

A supply chain management strategy aimed at reducing inventory costs by receiving goods only as they are needed in the production process.

Extreme Value Offers

Promotions or sales offering products or services at exceptionally low prices, often to attract a significant number of customers or clear out inventory.