Assume a study indicates that attending a class on blackjack strategy improved average winnings by 50 percent. If the null hypothesis is true and the p-value for the 50 percent improvement in winnings is 0.04, then there is a ________ chance of improving your blackjack winnings by 50 percent.
A) 0.2%
B) 0.4%
C) 4%
D) 20%

Question

Quizplus · Accepted Answer

The p-value of 0.04 indicates there is a 4% chance of observing a 50 percent improvement in winnings (or more extreme) due to random chance if the null hypothesis (no real effect) is true.

Assume a Study Indicates That Attending a Class on Blackjack