on Hypothesis testing, I know how to find p-value... and when to reject null hypothesis, etc. I know how to solve it and find it. I can get the problem right.
The problem is I do not know what it means(p-value and level of significant). The purpose of finding p-value is to reject or not reject null hypothesis(compare to given alpha)? What is the p-value representing?
And I still do not fully comprehend about given alpha(level of significant). From what I know is given alpha(say 0.05) is saying I will risk 5% of rejecting null hypothesis when in deed, null hypo. is right.
'the sample evidence is sufficient at the 0.05 level to justify rejecting null hypothesis'------------what is it saying? sufficient at the 0.05 level?
'at the 1% level of significance, evidence shows average assembly time is less thatn 38 hours.'---------------what is mean 'at the 1% level of significance'?
I really want to understand these. Thank you for your precious time and effort to answering my questions,
I thank you all in advance,