(A) A p-value of 0.05 is good because there is a 95% chance that our data is due to random error (B) This significance level of 0.05 is widely considered acceptable across multiple disciplines.

College Algebra
10th Edition
ISBN:9781337282291
Author:Ron Larson
Publisher:Ron Larson
Chapter8: Sequences, Series,and Probability
Section8.7: Probability
Problem 11ECP: A manufacturer has determined that a machine averages one faulty unit for every 500 it produces....
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(A) A p-value of 0.05 is good because
there is a 95% chance that our data is
due to random error (B) This
significance level of 0.05 is widely
considered acceptable across multiple
disciplines.
O Both statements are true.
O Only the first statement (A) is true.
O Only the second statement (B) is true.
O None of the statements are true.
4
Transcribed Image Text:(A) A p-value of 0.05 is good because there is a 95% chance that our data is due to random error (B) This significance level of 0.05 is widely considered acceptable across multiple disciplines. O Both statements are true. O Only the first statement (A) is true. O Only the second statement (B) is true. O None of the statements are true. 4
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