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What is a standard error? What does it mean for an estimate to be "statistically significant"?

What is a standard error?

What does it mean for an estimate to be "statistically significant"?

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Expert Solution

The standard error (SE) of a statistic is the approximate standard deviation of a statistical sample population. The standard error uses the standard deviation to measure the accuracy with which a sample distribution represents a population.

Statistical significance is a way of proving that a certain statistic is reliable. When you make decisions based on the results of experiments that you are running, you want to make sure that a relationship actually exists and statistical significance helps in ensuring it.

Rahul Sunny answered 1 year ago
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