Answer:
In hypothesis testing, the p-value is the probability of observing a test statistic as extreme as, or more extreme than, the one observed, assuming that the null hypothesis is true. In this case, the null hypothesis might state that the average delivery time is 25 minutes or less.
Given a p-value of 0.0267, it is typically compared to the significance level (alpha) to make a decision. Common significance levels are 0.05 or 0.01.
- If the significance level is 0.05, since \(0.0267 < 0.05\), you would reject the null hypothesis.
- If the significance level is 0.01, you would also reject the null hypothesis because \(0.0267 < 0.01\).
Therefore, with a p-value of 0.0267, there is evidence to reject the null hypothesis that the average delivery time is 25 minutes or less, suggesting that the delivery time may indeed exceed 25 minutes on average.