What Does It Mean When a Computer Printout Reads "P

question 16

Multiple Choice

What does it mean when a computer printout reads "p = 0.03"?

• A)The falls in the extreme 3% of the sampling distribution and the probability of a Type I error is 0.03.
• B)The falls in the extreme 3% of the sampling distribution and the probability of a Type II error is 0.03.
• C)The probability of a Type I error (0.03)is smaller than  (0.05),and,therefore,the results are nonsignificant.
• D)The probability of an error should be reported as p  0.01.

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Definitions:

Inventory Control

The management practice of overseeing and controlling the ordering, storage, and use of components that a company uses in the production of the items it sells.

Receiving Report

A document that records the details of goods received by a business, often used to verify shipments and to match with purchase orders.

Vendor's Invoice

An itemized bill provided by a supplier indicating the products or services provided, their quantities, and prices.

Inventory System

A method or software used by organizations to track inventory levels, orders, sales, and deliveries.