Final answer:
The p-value is the probability of observing a sample mean that is at least as extreme as the one derived from the given sample, under the assumption that the null hypothesis is true as an equality.
Step-by-step explanation:
The statement is True.
The p-value is the probability of observing a sample mean that is at least as extreme as the one derived from the given sample, under the assumption that the null hypothesis is true as an equality.
For example, if the null hypothesis is that the population mean is 10, and we calculate a sample mean of 12 with a p-value of 0.05, it means that if the null hypothesis is true, there is a 5% chance of observing a sample mean that is 12 or greater.