Compare and contrast the concepts of effect size and statistical significance
Compare and contrast the concepts of effect size and statistical significance.
Hint
StatisticsEffect size is a way to quantify the size of the difference between two groups. That is it is a true measure of the significance of the difference.Effect size = {mean of experimental error – mean of control group}/standard deviation.When effect size < 0.1 then it is a trivial effect, else if it is between 0.1 - 0.3 it is considered small effect, else if between 0.3 - 0.5 then moderate...
Effect size is a way to quantify the size of the difference between two groups. That is it is a true measure of the significance of the difference.
Effect size = {mean of experimental error – mean of control group}/standard deviation.
When effect size < 0.1 then it is a trivial effect, else if it is between 0.1 - 0.3 it is considered small effect, else if between 0.3 - 0.5 then moderate effect, and if effect size is > 0.5 then large difference effect.
However, statistical significance is the likelihood that the difference between the two groups can occur because of sampling. That is there will always be some difference between 2 samples drawn from same population. To know whether the difference is statistically significant or not, compare p-value with alpha. If p-value is less than alpha then I may conclude that the observed difference is statistically significant.
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