A P-Value of .03 Means

question 16

Multiple Choice

A p-value of .03 means:

• A) that in only 3 in 100 times would a result as large as the one observed in a sample of data be observed if the null hypothesis were actually true for the population
• B) that the null hypothesis is correct in 3 of 100 times
• C) that the research hypothesis is true
• D) that 3% of the variation in the dependent variable is explained by the inclusion of an independent variable

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Definitions:

Purchase Discount

A reduction in the price of goods or services, offered by the seller to the buyer, typically for early payment or bulk buying.

Inventory Stock Status

A report or record showing the quantities, status, and conditions of items a company has in stock.

Non-inventory Item

A non-inventory item is a type of product or service that a business sells or buys but does not track as part of its inventory.

Specific Customer Job

A particular project or task undertaken for a specific client, often used in the context of billing or project management.