data from previous example
Difference of Means
For a 2-tailed test, the p-value represents the
probability of making a type 1 error (concluding there is statistical significance when
there is none). Since there is less than a .01
% ( p < .0001) chance of making a type 1 error, which does not exceed the 5% error
limit (p =.05) established in the rejection criteria of the hypothesis testing process
(alpha), you conclude there is statistical significance.