Thursday, October 28, 2010

A humorous explanation of p-values

After Will's great post on sample sizes that referenced the youtube video entitled Statistics vs. Marketing, I found an equally funny and informative explanation on p-values here.

Aside from the esoteric explanations of what a p-value is, there is a point that I make often with customers that statistical significance (from p-values) is not the same thing as operational significance; just because you find a p-value of less than 0.05 doesn't mean the result is useful for anything! Enjoy.

2 comments:

biz analyst said...

lol!! I could probably use this video as one of my teaching aids. Thank You!

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