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For a two‐tailed hypothesis test, the p‐value is given as 0.04. At the 5% level of significance, the null hypothesis will most likely be:

A Rejected.

• The p‐value is the lowest level of significance at which the null hypothesis can be rejected. At the 5% significance level the null hypothesis will be rejected, as the significance level of the test is greater than the p‐value (4%).
• We can only reject or fail to reject the null hypothesis in a hypothesis test. The null is never “accepted.”