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In this video tutorial, we discuss how to calculate Cohen's d and interpret the effect size as small, medium, or large. Cohen's d indicates the difference between two sample means in relation to standard deviations: a d value of 1 signifies a difference of one standard deviation, 2 means a difference of two standard deviations, and 0.5 indicates half a standard deviation. Effect sizes are categorized as small (d = 0.2), medium (d ≈ 0.5), and large (d ≥ 0.8). The formula for calculating Cohen's d is the difference between the two sample means divided by the pooled standard deviation. The video then provides an example using test scores from two classes.