Statisically Insignificant
- From: franklin.sr@xxxxxxxxx
- Date: 27 Mar 2006 19:55:07 -0800
Hi there..
First off the bat, I'm not particularly math literate so bare with me
here.
I was arguing a point about lotto with a friend. I said that if the
odds were 14,000,000:1 the best thing to do is just buy 2 games ($2) as
even if you buy 20 games ($20) there increased chance of winning is
statisically insignificant.
After I wondered about this expression 'statisically insignificant' and
would like to know if there is a point that something becomes
'insignificant' or whether this is just some imperical expression used
to denote 'no difference'
Googled and Wikipedia'ed...but got nothing really.
Any takers?
.
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