BUGEN1502 Business Statistics - Confidence Interval And Hypothesis Testing Tutoring 2

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Question 4 (2 Marks)

  1. Explain the meaning of p value.
  2. What is the advantage of p value approach over critical value approach?
  3. Does a small p value indicate a strong relationship between the studied variables? Give your reason.
  4. If a p value of a one tailed test is 0.04, what is the p value for a two tailed test?

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