In January this year, I was in Cancun at a conference (I know, life is harsh). We were traveling from the hotel to the conference and my friend David gave me half a peso back in change because I had lent him too much for bus fare. I said flippantly that he could keep the “half-cent”. He pointed out to me that half a peso was more than half a cent, and was, in fact, 5 cents, or a nickel. I said it was barely more, and he rebutted that it was TEN times more. It was then that I realized this was a very good illustrative example of how a statistically meaningful difference still doesn’t translate into buying a pack of gum.
Most of the studies I review for this site fall into two categories:
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