12-03-2012 03:21 AM
I am comparing two means and calculating Z score and then the p-value.
If i get the p-value less than 0.05 will I call it "YES THERE IS SIGNIFICANT DIFFERENCE"
NO, THERE IS NO SIGNIFICANT DIFFERENCE???
Please give me some idea.
12-03-2012 11:24 AM
The P-value =0.05, is not always useful. First go back to your problem and decide how accurate you want to be. Then decide on your p-value- not necessarily 0.05.
Then go ahead with what you are doing.
These are just my thoughts.
12-03-2012 12:52 PM
There is a lot more to interpreting statistical significance than just looking at the p-value. See, for instance,
Your second claim, "NO, THERE IS NO SIGNIFICANT DIFFERENCE???" is a statement about the type II error and not about the type I (p-value) error. The correct interpretation statement is
"We failed to determine statistical significance.", which is much weaker.