Essay, Statistics
Project description
In statistics, significance (or p-value) is the probability of observing an event or result by chance alone. The lower that probability, the more statistically significant that observed result is. In clinical research, a p-value of .05 is commonly used as the cutoff point, meaning the likelihood of the observed result must be less than 5% (1 in 20) to be considered statistically significant. In some cases researchers will use a cutoff of 1% or 10%.
To prepare for this Discussion, review what you have learned about significance and p-values. Imagine you are asked to develop a clinical trial to test a new drug that researchers believe may be able to reverse lung cancer.
post a comprehensive response to the following:
What significance level would you choose and why?
What would be the effect of raising or lowering the significance level?
What other information would influence your decision on a significance level?
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