Statistical Significance

Definition: Statistical Significance is the likelihood that a relationship between two or more variables we find in our results is NOT caused by random chance.
In any experiment or observation that involves drawing a sample from a larger total population, there is always the possibility that an observed effect occurred due to sampling error (coincidence). Statistical significance is a way of showing to what extent that the answers which were obtained from the data are not totally due to luck.

💡

Learn more about Statistical Significance.

More on decision support: Activity Based Costing, Artificial Intelligence In Marketing, Big Data Analytics, Business Intelligence, Business Performance Management, more on decision support...

MBA Brief provides concise yet precise definitions of organizational concepts, management methods, and business models as taught in an MBA program.

We keep it short and provide links to high-quality websites where you can learn more about your topic.

Add MBA Brief to your desktop / iPad

© 2025 MBA Brief - Last updated: 2-5-2025 - Privacy | Terms