Question

What are the major differences between practical and statistical significance?

Answer 1

Statistical significance is that the results are very unlikely due to chance.

Practical significance is the ability to use that information in real-life situations.

For example, those who hold higher positions in companies are significantly taller (statistically) than those in lower status positions. However, the height differences between various levels are so small, they cannot be used as one criterion for giving promotions.

I searched Google under the key words "<I>statistical practical significance</I>" to get these possible sources:

http://www.abacon.com/graziano/ch05/sld024.htm
http://wiki.answers.com/Q/What_is_practical_significance
http://www.helium.com/items/886594-using-practical-and-statistical-significance-in-testing-the-null-hypothesis

In the future, you can find the information you desire more quickly, if you use appropriate key words to do your own search. Also see http://hanlib.sou.edu/searchtools/.

I hope this helps. Thanks for asking.