Effectiveness of Incentives
A teacher is interested in testing whether offering students some form of incentive improves their GPA. She collects data and performs a hypothesis test to test whether the probability of getting the maximum GPA is greater with an incentive than without.
Her null hypothesis is that the probability of getting the maximum GPA is the same with or without an incentive. The alternative is that this probability is greater. She gets a p-value from her hypothesis test of 0.07. Which of the following is the best interpretation of p-value?
i. The p-value is the probability of getting exactly the result obtained, assuming that incentives are effective in this context.
ii. The p-value is the probability that incentives are not effective in this context.
iii. The p-value is the probability of getting a result as extreme as or more extreme than the one obtained, assuming that incentives are effective in this context.
iv. The p-value is the probability of getting a result as extreme as or more extreme than the one obtained, assuming that incentives are not effective in this context.
v. The p-value is the probability of getting exactly the result obtained, assuming that incentives are effective in this context.