Critical Value & P-Value Methods: Comparison & Relationships

[jokerwild]

1)
In the basic probability theory the concepts of mutually exclusive events and independent events share prominent roles, can two events be both mutually exclusive and independent at the same time?

2)
What are two vital concepts and the relationship between "Critical Value Method" and the "P-Value Method"?

 

[matt grime]

Ooh, looks like homework...

 

[HallsofIvy]

1)
In the basic probability theory the concepts of mutually exclusive events and independent events share prominent roles, can two events be both mutually exclusive and independent at the same time?

What is the DEFINITION of "mutually exclusive"?
What is the DEFINITION of "independent"?

2)
What are two vital concepts and the relationship between "Critical Value Method" and the "P-Value Method"?

Have you considered looking those up in your textbook

 

[jokerwild]

For the second question I came up with this:

The critical value method is used for significance testing and is the value that a test must exceed in order for the null hypothesis to be rejected. The critical value would be the largest value of the test statistic that would end in the refusal of the null hypothesis. The p-value method is a measure of how much evidence you have against or for the null hypotheses.

Would this be a valid answer?