I accessed this question in cfa mock. I think the answer is b but the solution says c. Why is .01 not a rejection significance level
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This is a two tailed test and the significance value is for 1 tail , so we need to divide it by 2 to check the rejection areas. If we divide 0.01/2=0.005. In 22df the value under 0.005=2.819 which is greater than the Test Statistic, so we fail to reject Null Hypothesis.
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