What is the statistical significance of a result that would have less than 5% probability of occurring by pure chance?
MultiRegion, United States of America
The following excerpt is from Coser v. Moore, 739 F.2d 746 (2nd Cir. 1984):
3 Both sides used "statistically significant" as a recognized shorthand term for any result that would have less than 5% probability of occurring by pure chance. While recognizing that this significance level has no talismanic importance, we accept it for purposes of this case as a measure of validity. See Castaneda v. Partida, 430 U.S. 482, 496 n. 17, 97 S.Ct. 1272, 1281 n. 17, 51 L.Ed.2d 498 (1976).
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