In some reason this is not covered in my statistics textbook, and I found misleading information online.
If here is somebody, who knows his stuff, please help me.
I have a test statistic of z=4.95
P-value: P(Z > z) = P(Z > 4.95) = 1 – P(Z < 4.95)
The problem is, the table runs out of values at 3.99, as you probably know. In this case, the p-value should be extremely small and significant, right?
Then what got me confused - on this webpage, http://www.drbenniewaller.com/online...zes/quiz11.asp
Question 10. What is the p-value if the computed test statistic is 4.1?
A: 1.0
B: 0.0
C: 0.05
D: 0.95
I select B: 0.0, submit and it tells me this is wrong. I then select A:1.0, submit and it tells me this is right. What's going on here? How can 1 - 0.99999997 = 1? I think I have a pretty good understanding of test statistic, significance levels and hypothesis.. but I am asked to write 'what is the p-value', and with a test statistic 4.95, I don't know what to do..?I am confident I got the test statistic correct, it is not a difficult calculation.
Thanks!