Statistical power and significance18 August, 2015 at 09:41 | Posted in Statistics & Econometrics | 1 Comment
Much has been said about significance testing – most of it negative. Methodologists constantly point out that researchers misinterpret p-values. Some say that it is at best a meaningless exercise and at worst an impediment to scientific discoveries. Consequently, I believe it is extremely important that students and researchers correctly interpret statistical tests. This visualization is meant as an aid for students when they are learning about statistical hypothesis testing.