Final answer:
The results are statistically significant but not practically significant in this study on the Gender Aide method of gender selection.
Step-by-step explanation:
To determine whether the results have statistical significance, we can use the p-value method. The given p-value of 1% indicates that there is about a 1% chance of observing such extreme results if the Gender Aide method had no effect. Since this chance is less than the common significance level of 5%, we can conclude that the results are statistically significant.
Next, to determine whether the results have practical significance, we need to consider the actual difference in the number of boys and girls born. In this case, the difference is relatively small, with 540 boys and 460 girls. While this difference may be statistically significant, it may not have much practical significance in real-world terms.
Therefore, the correct answer is B. Statistically significant, not practically significant.