Final answer:
The question addresses the usage of the 3 sigma approach and standard deviation in statistics, relevant to interpreting sample data in relation to the population. Rejecting the null hypothesis with an alpha of 0.05 and a p-value less than alpha indicates a significant finding.
Step-by-step explanation:
The question refers to the concept of standard deviation and its role in statistical analysis, particularly pertaining to the 3 sigma (standard deviation) limit strategy. This strategy is related to the Central Limit Theorem and the empirical rule, which help in making inferences about population parameters based on sample statistics.
In a statistical context, a 3 sigma approach typically means that we are considering a range that extends three standard deviations from the mean in both directions on a normal distribution. About 99.7% of data within a normal distribution falls within this range. The phrase "multiple of the standard deviation" likely alludes to this range: for example, a multiple of 1 would be 1 standard deviation from the mean, 2 would be 2 standard deviations, and so on.
When the decision is made to reject the null hypothesis based on an alpha of 0.05 and a p-value less than alpha, it indicates that the statistical evidence is strong enough to conclude that the observed effect (in this context, the standard deviation being greater than three) is statistically significant.