Question

The marketing department of a national department store chain
designs its advertising to target 18- to 24-year-olds. The marking
manager worries that the average age of the chain’s customers is
greater than 24, in which case the marketing plan should be
reconsidered. He decides to survey a random sample of 200 customers
and will use the resulting data to test ?_{o}: μ = 24 vs.
?_{a}: μ > 24 where μ is the mean customer age. Suppose
that the *p*-value from this test was 0.03. Which of the
following is a correct interpretation of this *p*-value?

Answer #1

In technical terms, a P-value is a probability of obtaining an effect at least as extreme as the one in your sample data, assuming the truth of the null hypothesis.

we want to test that the average age of the chain’s customers is greater than 24.

?o: μ = 24 vs. ?a: μ > 24

P-value = 0.03

We reject Ho if P-value < level of significance

The P-value tells that:

Assuming that the average age of the chain’s customers is not greater than 24, 3 % of the time you conclude that the average age of the chain’s customers is greater than 24 because of random sample error.

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