(Answered) Question 1 suppose we reject a given simple null hypothesis

Economics

Question 1. Suppose we reject a (given) simple null hypothesis H0 for large values of a statistic T. Having observed a value t of the statistic, define in one sentence what the corresponding p-value is.

Question 2. What does it mean for a p-value to be 'valid'? Why is it desirable to work with valid p-values?

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Microeconomics, Economics

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