A poll reported that 30% of 60 Canadians between the ages of 25 and 29 had started saving money for retirement.Of the 40 Canadians surveyed between the ages of 21 and 24,25% had started saving for retirement.
A)P-value = 0.5824; There is about a 58.24% chance that the two proportions are equal.
B)P-value = 0.1812; If there is no difference in the proportions,there is about an 18.12% chance of seeing the observed difference or larger by natural sampling variation.
C)P-value = 0.2912; There is about a 24.96% chance that the two proportions are equal.
D)P-value = 0.2912; If there is no difference in the proportions,there is about a 24.96% chance of seeing the exact observed difference by natural sampling variation.
E)P-value = 0.5824; If there is no difference in the proportions,there is about a 58.24% chance of seeing the observed difference or larger by natural sampling variation.

Question

Quizplus · Accepted Answer

The p-value represents the probability of observing the given data, or something more extreme, if the null hypothesis (no difference in proportions) is true. Choice E correctly describes this concept, indicating a 58.24% chance of seeing the observed difference or larger due to random sampling variation if there is no true difference in the proportions of Canadians saving for retirement between the two age groups.

A Poll Reported That 30% of 60 Canadians Between the Ages