Consider the following to answer the question(s) below:
Winnipeg Pet Plus believes that it has a market share of 25 percent of the local dog food market. They survey 100 dog owners and ask whether or not it is their regular source of dog food, and 23 people say "yes."
-The P-value associated with the test statistic is
A) 0.644.
B) 0.322.
C) 0.678.
D) 0.635.
E) 0.317.

Question

Quizplus · Accepted Answer

The P-value is a measure of the probability that an observed difference could have occurred just by random chance. The closer the P-value is to 1, the more likely it is that the observed data could have occurred under the null hypothesis (in this case, that the market share is indeed 25%). A P-value of 0.644 suggests that there is a 64.4% chance that the observed data (23 out of 100 people saying "yes") could have occurred if Winnipeg Pet Plus actually has a 25% market share. This relatively high P-value indicates that the evidence is not strong enough to reject the null hypothesis, thus supporting the company's belief in its 25% market share.

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