Statistically significant and a meaningful result
What do we mean when we say that a statistical result is significant? What is the difference between a statistically significant and a meaningful result? Why is statistical significance important?
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A website manager has noticed that during the evening hours, about 3 people per minute check out from their shopping cart and make an online purchase. She believes that each purchase is independent of others and assumes that the distribution of nu
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One of the requirements of a probability distribution is that the sum of the probabilities must be 1 (with a small amount of leeway alowed for rounding errors). what is the justification for this requirement?
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