A market researcher at a major clothing company that has traditionally relied on catalog mail-order sales decides

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A market researcher at a major clothing company that has traditionally relied on catalog mail-order sales decides to investigate whether the amount of monthly online sales has changed. She compares the mean monthly online sales of the past several months with a historical figure for mean monthly sales for online purchases. She gets a P-value of 0.01. Explain in this context what the 1% means.
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Business Statistics

ISBN: 9780321925831

3rd Edition

Authors: Norean Sharpe, Richard Veaux, Paul Velleman

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