A pay equity analyst finds a p-value of 0.03 for the gender coefficient in a regression model. At the 0.05 significance level, what is the correct interpretation?
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A
The pay gap is practically significant but not statistically significant
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B
The pay gap is statistically significant, meaning it is unlikely due to chance
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C
The model explains 3% of pay variance
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D
Gender accounts for $0.03 of every dollar in pay