Data were collected for a sample of 12 pharmacists to determine if years of experience and salary are related. A regression was run with the dependent variable Salary (thousands of dollars) and independent variable Experience (years). Suppose the P-value associated with the calculated t-statistic is <.001. What is the conclusion at the .05 level of significance?

a. Conclude that years of experience is significant in explaining pharmacists' salary.
b. Reject the null hypothesis and we conclude that years of experience is significant in explaining pharmacists' salary
c. Do not reject the null hypothesis and we conclude that years of experience is significant in explaining pharmacists' salary.
d. Reject the null hypothesis.

We are given p-value less than 0.001, which means p-value less than given level of significance or alpha value 0.05, so we reject the null hypothesis and conclude that years of experience is significant in explaining pharmacists’ salary.

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topeadeniran2 topeadeniran2 · Answer 2 · 2021-12-04T12:40:54+01:00

The conclusion at the level of significance that's given will be B. Reject the null hypothesis and we conclude that years of experience is significant in explaining pharmacist salary.

The null hypothesis simply means that statistical theory that suggests that there's no significance between the variables.

In this case, the p-value that's given is less than the level of significance. Therefore, the null hypothesis will be rejected. It can then be concluded that the years of experience is significant in explaining the salary of the pharmacist.

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