A significance level of 5% (more commonly referred to as 95%) corresponds to a statement that (only) a probability of 5% or less is that a particular randomly generated observation is accepted as significant.
In this example, the p-level (the true probability that the observations are randomly generated) is less than 5% (0.0421 <0.05), so we can draw the conclusion that the observations are significant.
p = 0.0421 means that the probability is only 0421/1000. The choice of significance level to reject the null hypothesis is optional. Traditionally, 5%, 1%, and 0.1% levels have been used. In rare situations, a 10% significance level is also used.
Learn more about p-value here: https://brainly.com/question/13786078
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