SOLUTION: Please help me to understand the margin of error and p-value better. Does reducing standard deviation reduce margin of error? Does lowering confidence level reduce the margin of

Question 382362: Please help me to understand the margin of error and p-value better.
Does reducing standard deviation reduce margin of error?
Does lowering confidence level reduce the margin of error?
Is data only significant if the p-value is less than a?

Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Please help me to understand the margin of error and p-value better.
Does reducing standard deviation reduce margin of error?
ME = z*s/sqrt(n)
Reducing "s" on the right side reduces ME on the left side.
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Does lowering confidence level reduce the margin of error?
Again: Reducing the confidence level will reduce "z" on the right
which has the effect of reducing ME on the left side
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Is data only significant if the p-value is less than alpha?
It's not the data that is or is not significant.
The terminology provides an agreeable way of
stating the significance of the test results.
When the p-value is close to alpha more testing may
be in order. When the p-value differs significantly
from alpha we have some reason to accept or deny whatever
Ho says.
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Cheers,
Stan H.

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