Alice Morton, CFA, is reviewing a research paper that reaches a conclusion based on two hypothesis tests with p-values of 0.037 and 0.064. Morton should conclude that:
A) both of these tests’ null hypotheses can be rejected with 90% confidence.
B) neither of these tests’ null hypotheses can be rejected with 95% confidence.
C) only one of these tests’ null hypotheses can be rejected with 99% confidence.
Explanation
A is correct
The p-value of a hypothesis test is the smallest significance level at which the null hypothesis can be rejected. Because both tests’ p-values are less than 10%, both null hypotheses can be rejected at the 10% significance level (or at the 90% confidence level). One of the tests has a p-value greater than 5%, so the null hypothesis being tested cannot be rejected at the 5% significance (95% confidence) level. Neither test has a p-value less than 1%, so neither null hypothesis can be rejected at the 1% significance (99% confidence) level.
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