BONUS: Explain (with examples if possible) the relationship between the p-value, alpha, your obtained statistic and your critical value.
Relationship between p-value and alpha:
P-value: the probability value is the probability obtains from the test statistic results at least as extreme as the results observed actually from the test given that the null hypothesis is true.
Alpha (level of significance): The probability of rejecting the null hypothesis. It assumes that the null hypothesis is true.
If p-value less than alpha then the null hypothesis can be rejected otherwise do not reject the null hypothesis.
Example:
If F test statistic is 3.45 with degrees of freedom 2 and 7. The level of significance is 0.05.
From the above information, the p-value using Excel is a follows:
Here, p-value (0.0906) which is greater than the alpha (level of significance = 0.05), then do not reject the null hypothesis.
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