P value and Significance Level

Difference Between the P value and Significance Level? Basically in hypothesis testing the goal is to see if the probability value is less than or equal to the significance level (i.e., is p ≤ alpha). It is also called the size of the test or the size of the critical …

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Type I and Type II errors in Statistics

Type I and Type II Errors In hypothesis testing, there are two possible errors we can make: Type I and Type II errors. If you do reject your null hypothesis, then it is also essential that you determine whether the size of the relationship is practically significant.The hypothesis test procedure …

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Significance level in Statistics: why do researchers use 5%?

Significance Level The significance level in statistics is the level of probability at which it is agreed that the null hypothesis will be rejected. In academic research, usually, a 0.05 level of significance (level of significance) is used. The level of significance is also called a level of risk. Significance …

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