Problem

An observed recovery decrease is \(0.2~\text{day}\) with \(p~=~0.48\), \(\text{alpha}~=~0.05\), and a practical threshold of \(1~\text{day}\). Classify its statistical significance and practical importance separately.

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It is practically important but not statistically significant: p = 0.48 is above 0.05, but incorrectly treat every observed decrease as practically large.

It is statistically significant but not practically important: incorrectly treat p = 0.48 as below 0.05, while 0.2 day is below the 1-day threshold.

It is neither statistically significant nor practically important because 0.2 day is below the 1-day threshold.

It is both statistically significant and practically important: incorrectly treat p = 0.48 as below 0.05 and 0.2 day as above the 1-day threshold.

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An observed recovery decrease is \(0.2~\text{day}\) with \(p~=~0.48\), \(\text{alpha}~=~0.05\), and a practical threshold of \(1~\text{day}\). Classify its statistical significance and practical importance separately.

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