P-value table
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P-value table for t-test.
How to find p-value from test statistic
P-Value: Comprehensive Guide to Understand, Apply, and Interpret
A p-value is a statistical metric used to assess a hypothesis by comparing it with observed data.
This article delves into the concept of p-value, its calculation, interpretation, and significance.
It also explores the factors that influence p-value and highlights its limitations.
What is the P-value?
The p-value, or probability value, is a statistical measure used in hypothesis testing to assess the strength of evidence against a null hypothesis.
It represents the probability of obtaining results as extreme as, or more extreme than, the observed results under the assumption that the null hypothesis is true.
In simpler words, it is used to reject or support the null hypothesis during hypothesis testing.
In data science, it gives valuable insights on the statistical significance of an independent variable in predicting the dependent variable.
How P-value is calculated?
Calculating the p-value typically involves the following steps:
- Formulate the Null Hypothesis (H0): Clearly state the null hypot
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