If a Significance Test Gives P-Value 0.005

question 24

Multiple Choice

If a significance test gives P-value 0.005,

• A) the margin of error is 0.005.
• B) the null hypothesis is very likely to be true.
• C) we do not have good evidence against the null hypothesis.
• D) we do have good evidence against the null hypothesis.
• E) the effect of interest is practically significant.

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Definitions:

English Auction

A public sale method where bids are openly made and raised until no higher bid is offered, with the highest bidder purchasing the item.

Sealed Auction

An auction format in which all bids are submitted simultaneously in sealed envelopes, and the highest bid wins without bidders knowing the bid amounts of others.

Oral Auction

In this auction type, bidders submit increasing bids until only one bidder remains. The item is awarded to the last remaining bidder.

Oral Auction

An auction conducted by an auctioneer who calls out prices of items for which participants physically present place bids verbally.