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A series of stories in the popular press in early 2004 reflected the effect of the depreciation of the U.S. dollar vis-à-vis other currencies. Describe some of these effects. Should the United States be worried? What about trading partners of the United States?
Significance Level
A threshold set by the researcher to determine the point at which the results of a statistical test can be considered to demonstrate a meaningful effect, typically denoted by alpha (α).
Effect Size
A measure of the magnitude of difference between two groups, usually calculated as Cohen’s d.
Significant Difference
A difference between groups or conditions that is unlikely to have occurred by chance alone, according to a predefined threshold of statistical significance.
Independent Samples
Groups in a study or experiment that are randomly assigned and do not influence each other.
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