How to find significance between two industry with a common ratio
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Answer:
Statistical significance is a way of mathematically proving that a certain statistic is reliable. When you make decisions based on the results of experiments that you’re running, you will want to make sure that a relationship actually exists.
Online web owners, marketers, and advertisers have recently become interested in making sure their a/b test experiments (eg. conversion rate a/b testing, ad copy changes, email subject line tweaks) get statistical significance before jumping to conclusions.
Your statistical significance level reflects your risk tolerance and confidence level. For example, if you run an A/B testing experiment with a significance level of 95%, this means that if you determine a winner, you can be 95% confident that the observed results are real and not an error caused by randomness. It also means that there is a 5% chance that you could be wrong.
Testing Your Hypothesis
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