Statistical Power Is the Probability of Concluding There Is a Difference

question 24

True/False

Statistical power is the probability of concluding there is a difference between the training and the control groups when such a difference actually exists.

---

Definitions:

Liquidated Damages

A predetermined amount of money that must be paid as compensation for failure to perform under a contract.

Resale Price

The price at which an item is sold after it has already been purchased from the original seller or manufacturer.

Contract Price

The price agreed upon by the contracting parties for the exchange of goods, services, or property as stipulated in their contract.

Punitive Nature

An aspect of legal judgments or actions intended to punish the wrongdoer, rather than simply to compensate for harm done.