A P-Value Indicates

question 12

Multiple Choice

A P-value indicates

• A) the probability that the null hypothesis is true.
• B) the probability that the alternative hypothesis is true.
• C) the probability of the observed statistic given that the null hypothesis is true.
• D) the probability of the observed statistic given that the alternative hypothesis is true.
• E) the probability of the null hypothesis.

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Definitions:

Income

The money received, especially on a regular basis, for work or through investments.

Fair Insurance Policy

An insurance contract that is considered equitable, offering reasonable terms, coverage, and protection for all parties involved.

Premium

The amount paid for an insurance policy or the difference above the nominal or face value of a security.

Expected Value

The predicted value of a variable, calculated as a sum of all possible values each multiplied by the probability of its occurrence.