Answer
The merits and demerits are as follows:
Merits of classical approach:
1. The classical approach is easy to understand.
2. The occurrence of type I error is fixed.
Demerits of classical approach:
1. If the significance level is altered,
then the critical value needs to be tested again in the statistical table.
2. The test statistic does not infer until it is compared with the critical value.
The merits and demerits are as follows:
Merits of P-value approach:
1. P-value method is easy to use with software.
2. The type I error need not be prearranged and set.
Demerits of P-value approach:
1. This method is not easy to calculate.
2. This method is not easy to obtain by using tables. Explanation of this method is hard to understand.
Work Step by Step
Given above.
