Relation between critical value and p value

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Reference no: EM13110337

When doing hypothesis testing we have two ways of making a decision - the critical value method and the p-value method. While both give the same results in terms of determining whether to reject or not reject the null hypothesis, most statistical analysts prefer the p-value method. Describe the two methods and explain why the p-value method might be preferred to the critical value method.

Reference no: EM13110337

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