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How do you assess the statistical significance of an insight?

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You would perform hypothesis testing to determine statistical significance. First, you would state the null hypothesis and alternative hypothesis. Second, you would calculate the p-value, the probability of obtaining the observed results of a test assuming that the null hypothesis is true. Last, you would set the level of the significance (alpha) and if the p-value is less than the alpha, you would reject the null — in other words, the result is statistically significant.

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