Answer: The lowest level at which H₀ can be rejected

The p-value is defined as the smallest level of significance at which the null hypothesis (H₀) can be rejected. It represents the probability, assuming H₀ is true, of observing a test statistic at least as extreme as the value observed. **Key points:** - **Option A & B** are incorrect because they state "highest level" rather than "lowest level" - **Option C** is correct: p-value is the lowest significance level at which H₀ can be rejected - **Option D** is incorrect: This describes the probability of Type II error (accepting H₀ when it is false), not the p-value **Understanding p-value:** - If p-value ≤ α (significance level), reject H₀ - If p-value > α, fail to reject H₀ - Smaller p-values provide stronger evidence against H₀ **Example:** If p-value = 0.03, this means H₀ can be rejected at any significance level α ≥ 0.03, and 0.03 is the smallest such level.

Author: Nikitesh Somanthe