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Question 98 - CBDA discussion

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When reviewing the results of their analysis, the team is determining if the data supports their hypothesis and can be presented to decision makers. They are reviewing measures of variation, sample size and statistical significance. They realize that the p-value of 0.02 is lower than the initial target. This clearly indicates the team can:

A.
Accept the null hypothesis and accept the alternative
Answers
A.
Accept the null hypothesis and accept the alternative
B.
Accept the null hypothesis and reject the alternative
Answers
B.
Accept the null hypothesis and reject the alternative
C.
Reject the null hypothesis in favor of the alternative
Answers
C.
Reject the null hypothesis in favor of the alternative
D.
Reject the null hypothesis and reject the alternative
Answers
D.
Reject the null hypothesis and reject the alternative
Suggested answer: C

Explanation:

Explanation: According to the Guide to Business Data Analytics, a p-value is the probability of obtaining a test statistic at least as extreme as the one observed, assuming that the null hypothesis is true. A p-value is used to make conclusions in hypothesis testing by comparing it to a significance level, which is the maximum probability of making a type I error (rejecting the null hypothesis when it is true). If the p-value is less than or equal to the significance level, then there is strong evidence against the null hypothesis and it is rejected in favor of the alternative hypothesis. If the p-value is greater than the significance level, then there is weak evidence against the null hypothesis and it is not rejected. In this situation, the team realizes that the p-value of 0.02 is lower than the initial target, which means that the probability of observing such a result under the null hypothesis is very low. This clearly indicates that the team can reject the null hypothesis in favor of the alternative hypothesis, as there is sufficient evidence to support their hypothesis.

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asked 18/09/2024
Carmina Medel
33 questions
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