We very often set the cutoff for a significant p value at 0.05, and minimal acceptable power at 0.8. Sometimes p of 0.01 is demanded. Sometimes power of 0.90 is demanded. But what are these values and how are they chosen? Read more!
Two terms that are frequently confused are moderation and mediation:
Definitions of moderating and mediating:
A mediating variable is one that accounts for or alters another relationship. A strict definition is that the mediating variable has to greatly reduce or even eliminate the relationship. A more lenient definition is that it affects the relationship. I favor that more lenient definition. A moderating variable is one that interacts with a variable. An interaction means that the relationship between one independent variable (IV) and the dependent variable (DV) is different at different levels of the other IV. Read more!
In regression and ANOVA, an interaction occurs when the effect of one independent variable on the dependent variable is different at different levels of another independent variable. When one or both of the independent variables is categorical, then two common strategies for dealing with interactions are stratifying and adding an interaction term. A somewhat less common method is classification and regression trees. Each has its advantages and disadvantages.