We test whether two group population means differ. The p-value of our test statistic is 0.047 which is less than or equal to 0.05. What is the most appropriate conclusion we can make with the information given?

We can conclude that the difference in the two group population means is both statistically significant and practically significant.

We can conclude that the difference in the two group population means is neither statistically significant nor practically significant.

We can conclude that the difference in the two group population means is statistically significant, but we cannot assess whether the difference is practically significant until we are given a confidence interval for the difference in the two group population means.