probability-and-statistically-significance-explained

Last updated Nov 27, 2022

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• Denoted as alpha or $\alpha$
• The probability of rejecting the null hypothesis when it is true
• Generally, we use the significance value of 0.05

• The probability that the difference between two values is just because random chance
• P-value is evidance againts the null hypothesis
• The smaller p-value stronger the chances to reject the $H_0$
• For the significance level of 0.05, if the pvalue is lesser than it, hence we can reject the null hypothesis

• The confidence interval is an observed range in which a given percentage of test outcomes fall
• Generally, we take a 95% confidence interval