This Stats Snack will focus on the concepts of statistical significance and practical importance and will compare/contrast the two. Statistical significance is grounded in statistical testing. Practical importance interprets the results of statistical testing in the context of scientific importance. Videos on “what is a p-value?” and “What is a confidence interval?” should be viewed before this video for ease of understanding.
This video is part of an educational series presented by AAPS. Stats Snax discusses basic statistical concepts that apply to the pharmaceutical industry using examples from CMC development areas. Designed for non-statisticians, you will learn foundational concepts that CMC statisticians encounter in their daily interactions with clients. If you have ever wondered, “What is a p-value?” or “How is expiry determined?” – This series is for you!
#CMCStatistics#StatsSnax