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In: Statistics and Probability

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

Standard error:- The standard error is a statistical term that measures the accuracy with which a sample distribution represents a population by using standard deviation.

Statistically significant:- Statistical significance is the likelihood that a relationship between two or more variables is caused by something other than chance. Statistical hypothesis testing is used to determine whether the result of a data set is statistically significant.

It means that if the Null Hypothesis is true (which means there really is no difference), there's a low probability of getting a result that large or larger

orchestra answered 1 year ago
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