Answer:
A p-value if 0.047(same as 4.7%) means there is a 4.7% chance that there is no difference in how effective the new treatment is.
Step-by-step explanation:
When we talk of a p-value, we are referring to a conditional probability. What it tells us is the probability of getting results which are at least as unusual as the observed statistics in a case where we are given that the null hypothesis is not false.
A p-value if 0.047(same as 4.7%) means there is a 4.7% chance that there is no difference in how effective the new treatment is.
So what this means is that, in this case it is better that more data is collected to enable us know how effective the new treatment is
