Statistical Significance: Definition & Calculation

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Which of the following p-values shows statistical significance?

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1. Which of the following p-values is NOT statistically significant?

2. What is the accepted p-value that makes a hypothesis statistically significant?

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About This Quiz & Worksheet

Statistical significance is important to be familiar with in business math, and this quiz/worksheet will help you assess your understanding of its calculation and implications.

Quiz & Worksheet Goals

In these assessments you'll be tested on various aspects of statistical significance, including:

  • Significant p-values
  • Insignificant p-values
  • Probabilities

Skills Practiced

  • Problem solving - use acquired knowledge to solve practice problems involving the translation of p-values from a decimal to a percent
  • Knowledge application - use your knowledge to answer questions about significant p-values
  • Distinguishing differences - compare and contrast significant and insignificant p-value

Additional Learning

To learn more about interpreting statistical significance, review the accompanying lesson called Statistical Significance: Definition & Calculation. This lesson covers the following objectives:

  • Understand what constitutes statistical significance
  • Define p-value
  • Know what makes p-value significant
  • Differentiate between significant and insignificant p-value
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