To find the values for \(α\) = 0.01, we will go to the standard normal table and find the \(z\)-score cutting of 0.005 (0.01 divided by 2 for a two-tailed test) of the area in the tail, which is \(z*\...To find the values for \(α\) = 0.01, we will go to the standard normal table and find the \(z\)-score cutting of 0.005 (0.01 divided by 2 for a two-tailed test) of the area in the tail, which is \(z*\) = ±2.575. This is because we need much less of the area in the tail, so we need to go very far out to find the cutoff. We don’t know exactly what the \(p\)-value is, but we know it must be larger than the \(α\) level we used to test our hypothesis.
