Examlex
Information necessary for decision-making includes:
Alpha
The threshold of probability at which the null hypothesis is rejected in statistical testing, often set at 0.05.
Statistical Significance
Indicates the likelihood that a result or relationship is caused by something other than mere chance.
Statistical Probability
The quantification of the likelihood of an event occurring based on a ratio of favorable outcomes to the total number of possible outcomes.
Statistical Precision
How similar the results are when measurements are taken repeatedly in unaltered circumstances.
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