Question

Which statistical tests would be used to determine statistical significance, and which statistical tests would be used to determine the variance from a population mean? Give a brief description of their key differences.

Answer 1

To determine statistical significance :

Statistical significance is used to show the likelihood of a relationship between two or more variables can be caused by something other than chance. Statistical hypothesis testing is used to determine whether the result of a data set is statistically significant. The test requires a p-value, representing the probability that random chance could explain the result; in general, a p-value of 5%(?(alpha)= 0.05 Significance level) or lower is considered to be statistically significant.

?(alpha) is called the significance level

To determine the variance from a population mean? :

T-Test: When Population Variance is Unknown

In general, we know that if the data are normally distributed, then:

We can also use the Z score if we have a known mean and a corresponding score and Z score so as to get the variance/standard deviation using.

z = x – ? / ?