How Small Must a P-Value Be in Order to Consider

question 14

Multiple Choice

How small must a P-value be in order to consider it convincing evidence against the null hypothesis?

• A) Statement I: The P-value must always be less than 0.05 (5% significance level).
• B) Statement II: The P-value must be small enough to persuade others to believe H_a instead of H₀.
• C) Statement III: The P-value must be very small if the risk of changing from H₀ to H_a is large.
• D) Both statement II and III.
• E) Statements I, II, and III are all correct.

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Definitions:

Significant Influence

The ability to be involved in the financial and managerial policy decisions of an investment without having controlling authority over those policies.

Fair Value Through Profit or Loss

An accounting approach where financial assets are valued at their current market price, with changes in fair value reported in the profit or loss statement.

Journal Entries

The record of financial transactions in the books of accounts in chronological order, showing the accounts and amounts debited and credited.

Significant Influence

The power to participate in the financial and operating policy decisions of a business, without controlling it.