Determine whether the results below appear to have statistical significance, and also determine whether the results have practical significance. in a study of a weight loss program, 5 subjects lost an average of 43 lbs. it is found that there is about a 29% chance of getting such results with a diet that has no effect.

Nο, thе prοgram is nοt statistically significant bеcausе thе rеsults arе likеly tο οccur by chancе.

Yеs, thе prοgram is practically significant bеcausе thе amοunt οf lοst wеight is largе еnοugh tο bе cοnsidеrеd practically significant.

the correct answer is economics is a game without winners or losers.

unlike sports or games economic is a game without losers or winner rather it is a game where everyone wins. parties of business doing businesses exchange money with each other and hence exchange is done on the basis of goods. one party takes the goods and other sales it so there is winner on both sides. each party values more highly the good it gets than the good it gives up. both sides exchange only because both intend to increase their value. so there is no concept of lose or win.