*The Business Professor*, updated December 9, 2019, last accessed October 23, 2020, https://thebusinessprofessor.com/lesson/statistically-significant-definition/.

### Statistical Significance Definition

Statistical significance refers to the probability that a relationship formed between at least two variables is because of something specific, and not by chance or a mere coincidence. Statistical hypothesis testing helps in knowing how statistically significant outcome of a data set is. It gives a p-value that shows the probability that random chance would describe the outcome. In statistical terms, if the p-value tends to be at most 5%, it is said to be statistically significant.

### A Little More on What is Statistical Significance

Statistical significance enables in the acceptance or rejection of the null hypothesis. Null hypothesis showcases no relationship between a given a set of variables. A data set is said to be statistically significant when it is big enough to correctly showcase the population sample being examined. A data set having the probability of less than 1/20, or 5% is said to be statistically significant. In case, the test result is more than the p-value, it leads to the acceptance of the null hypothesis. On the other side, if the p-value is more than the test result, it results in the rejection of the null hypothesis.

### References for “**Statistically Significant****”**

https://en.wikipedia.org/wiki/Statistical_significance

https://www.investopedia.com › Investing › Financial Analysis

https://www.optimizely.com/optimization-glossary/statistical-significance/