Okay, I think this might be a basic question but I just can't quite seem to get there. I understand what reliability and validity is, but I don't understand just what I should do with it when looking at the results.
Imagine a super-simple test examining how much people spend on groceries every week.
For example, say that that test gives a significant result that is reliable but with low validity. So I get that that means that the test wasn't good for looking at the thing we wanted to look at, but that we would get roughly the same results if we repeated it. What can I do with that result then? Does it make the result completely useless? Anything else than draw the conclusion that we can't say anything about the subject that we wanted to look at?
The opposite as well: a valid test with low reliability. Anything else than drawing the conclusion that we can't say anything?
I'd be very grateful for any help. Thank you.