Hello
While using the online MaxDiff analyzer Simulator, we see the attribute preference % based on Share of Preference method. My question is - Is there a way to say that the % for Attribute A is SIGNIFICANTLY more / less than of Attribute B? In other words, how much of a difference do we need to say that things are significantly different from one another?
Does it even make sense to ask the 'significantly different' question for HB model outputs? If no, then why not?
If yes, then does it depend on the sample size, number of concepts being tested or anything else? Can we do this significance analysis anywhere in the online simulator? If not, how can we do that offline (the formula)? I am relatively new in this, and would really appreciate some hand-holding while I figure this out please.
Thank you for your time in advance,
Kind regards
Kshitij