5% and 1% significance
Hi, I am a little confuse about the p-value and the significance level.
5% significance: 0.015 < 0.05 => We reject the null hypothesis
1% significance: 0.015 > 0.01 => We accept the null hypothesis
Why the conclusion we interpret that there is enough statistical evidence mean difference is NOT 4%? Isn't that at 1% significance the mean difference is 4%? How can we interpret this?
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If the p-value is less than the significance level, then we can conclude that "There is sufficient evidence to support the alternative hypothesis" and hence, reject the null hypothesis; Or else, we conclude that "There is insufficient evidence to support the alternative hypothesis" and in this case, do not reject the null hypothesis.
Hope this helps.
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