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Why is 0.05 significance level used?A p-value less than 0.05 (typically ≤ 0.05) is statistically significant. It indicates strong evidence against the null hypothesis, as there is less than a 5% probability the null is correct (and the results are random). Therefore, we reject the null hypothesis, and accept the alternative hypothesis.
What does 0.01 significance level mean?Significance Levels. The significance level for a given hypothesis test is a value for which a P-value less than or equal to is considered statistically significant. Typical values for are 0.1, 0.05, and 0.01. These values correspond to the probability of observing such an extreme value by chance.
Why is 5 the conventional significance level used in scientific research?The value 0.05 comes from Sir Fisher, who wasn't allowed to print tables of critical values for test statistics for several different significances. Because of copyright restrictions he could only print an excerpt, and he decided to take 0.05 as something that should work in most cases IN HIS FIELD OF RESEARCH.
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Match the level of significance to the type of research for which it is traditionally chosen.
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