Question: Define p-value. what a p-value is and how to interpret its value. Typically, a p-value of 0.05 is used as the significance level. This means

Define p-value. what a p-value is and how to interpret its value. Typically, a p-value of 0.05 is used as the significance level. This means that if p > 0.05 wefail to rejectHo (null hypothesis). If p < 0.05 we reject Ho. Discuss whether or not you think 0.05 is too strict or too liberal a value for making statistical claims.

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