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4. (2) A significant level of 0.01 means that the null hypothesis is tested to be
significant at 99% confidence. But in reality, a 99% confidence interval is not
attainable, therefore it is safer to use 0.05 significance level or a more
acceptable 95%.
5. (3) Results of statistically tools are not absolutely correct but can be treated to
be correct at certain levels, allowing certain error percentages at most 5%.
6. (4) A null hypothesis is a type of hypothesis used in statistics that proposes that
there is no difference between certain characteristics of a population (or data-
generating process). This is used by researchers mostly to have an objective of
proving that there is significant relationship.
Problem:
Is there a significant difference along the financial practices of the teachers when
grouped according to their profile?
Null Hypothesis
“There is no significant difference along the financial practices of the teachers
when grouped according to their profile”.