Statistical significance
Respond to bold//underlined rebuttal. 200 words.
Your mayor just announced that the local unemployment rate dropped last month from the prior month. It went from 10.5% to 10.4%. Is this a significant drop? Explain.
Many of you are still focused on PRACTICAL significance. The intent of the question, in conjunction with this week’s text reading, is to determine if this is STATISTICALLY significant. You have to solve for zSTAT, as noted below and in your text. If you solve for this, is the drop STATISTICALLY signficant or not?
n = 1
P = 10.4 % or 0.104
π = 0.001
