Explains the relation between a critical value and a p value
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When doing hypothesis testing we have two ways of making a decision - the critical value method and the p-value method. While both give the same results in terms of determining whether to reject or not reject the null hypothesis, most statistical analysts prefer the p-value method. Describe the two methods and explain why the p-value method might be preferred to the critical value method.
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Solution Summary
Describes the critical value and p value method of hypothesis testing and explains the differences and similarities between the two.
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The critical value method basically sets a criterion on a number scale. If your observed score falls beyond that critical value on your scale of measurement, you reject your null hypothesis.
The p-value method also uses a criterion, but this is based on the area under the curve, or the probability of obtaining a score. If the ...
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