Determine the meaning of significance level

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A two-sided coin is tossed 100 times. Of those 100 times, "heads" results 43 times, as opposed to the expected 50 times. The data is calculated to be significant at the 0.01 value. Determine the meaning of this significance level.

Select the correct answer below:

A.) You can expect 43 out of every 100 coin tosses to result in "heads".

B.) The probability of the outcome being the result of chance is 0.01 or less.

C.) The coin is not a fair coin at the 0.001 level of significance.

D.) The coin is not a fair coin at the 0.005 level of significance.

Reference no: EM132857848

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