Asked by
Nathanael Summers
on Oct 12, 2024Verified
A poll reported that 30% of 60 Canadians between the ages of 25 and 29 had started saving money for retirement.Of the 40 Canadians surveyed between the ages of 21 and 24,25% had started saving for retirement.
A) P-value = 0.5824; There is about a 58.24% chance that the two proportions are equal.
B) P-value = 0.1812; If there is no difference in the proportions,there is about an 18.12% chance of seeing the observed difference or larger by natural sampling variation.
C) P-value = 0.2912; There is about a 24.96% chance that the two proportions are equal.
D) P-value = 0.2912; If there is no difference in the proportions,there is about a 24.96% chance of seeing the exact observed difference by natural sampling variation.
E) P-value = 0.5824; If there is no difference in the proportions,there is about a 58.24% chance of seeing the observed difference or larger by natural sampling variation.
P-value
A statistical measure that helps to determine the significance of results obtained in hypothesis testing, indicating the probability of observing the results if the null hypothesis were true.
- Familiarize oneself with the significance of the p-value during the process of testing hypotheses.
Verified Answer
AN
Learning Objectives
- Familiarize oneself with the significance of the p-value during the process of testing hypotheses.