💼 Pre-MBA Exam Prep

A p-value represents:

A The probability the hypothesis is true
B The probability of observing results at least as extreme as the data given that the null hypothesis is true
C Sample size
D Effect size

✓ Correct Answer: Option B

P-value: probability of obtaining test results at least as extreme as observed, assuming H0 is true. Small p-value (< α typically 0.05) → reject H0. Does NOT equal probability H0 is false.

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