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Suppose we conduct a hypothesis test $H_0$ against $H_A$ at the level $\alpha = 0.05$ and obtain a $p-$value of $0.01$. Is $H_0$ incorrect? Explain.

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quant-research
data-analyst
Technical

When addressing this question, focus on what the p-value represents in relation to the significance level \\(\alpha\\). Remember that a p-value is the probability of observing the data, or something more extreme, if the null hypothesis were true. Contrast this with the significance level, which is the threshold for deciding when to reject the null hypothesis.

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