After they perform the hypothesis test, the manager obtains a pvalue of 0004 The pvalue is less than the significance level of 005 Decide whether to reject or fail to reject the null hypothesisReflects the probability of getting a value for the statistic equal to or more extreme than one calculated in a hypothesis, if null hypothesis is true Type 1 error rejecting a true null hypothesis The critical significance level sets the probability of this Type 2 error accepting a false null hypothesis The significance test is the process used, by researchers, to determine whether the null hypothesis is rejected, in favor of the alternative research hypothesis, or not
Hypothesis Testing Tool
