Question

Which of the following is true of the pvalue (more than one answer may apply)?

A. The pvalue is the probability of observing a more extreme test statistic.
B. Conducting a hypothesis test and computing a pvalue provides more precise information on the level of significance than a single confidence interval calculation.
C. Hypotheses tests and Confidence intervals are both inferential statistical techniques and are interchangeable.
D.In application, most marketing analysts will first look at all tests for statistical significance and after finding ones that are significant they will analyze further with by constructing the difference between two means or two proportions confidence intervals.

Answer 1

Option A is definitely correct. p value is the probability of getting a value at least as extreme as the observed value or a more extreme one than the observed

Option C is also correct. We have see some relationships between p value of hypothesis test and confidence interval.if we know any one's results we can conclude the same decision using the other one method too.

Option D is also a correct statement. First we should understand which tests we should be concerned about then work on it with suitable procedure.