Understanding P-values in Statistical Analysis

[whitehorsey]

1.

3. I solved for t distribution = (.03 - 0)/(.1/√25) = .15
P - Value = 2P(T ≥ .15) = 2(.441) = .882. So I got No but instead we fail to reject H₀ because 0.882 > .05 (.005 is the typical significance level). Is this correct and would it be a correct interpretation?

 

[mfb]

I am surprised that s does not have a unit.

0.882 > 0.05 (or whatever you want to use), so we don't reject H₀.
The large p-value shows that the result is very close to the "prediction" based on H₀.

 

[whitehorsey]

I am surprised that s does not have a unit.

0.882 > 0.05 (or whatever you want to use), so we don't reject H₀.
The large p-value shows that the result is very close to the "prediction" based on H₀.

Thank You!

 

[abeliando]

And do you know in words what that p-value means?

 

[whitehorsey]

And do you know in words what that p-value means?

The probability of attaining a test statistic.