With respect to Hypothesis testing and inferential statistics, the significance level refers to the probability of committing a type I error — that is, it is the probability of rejecting the null hypothesis given that it is true in actuality. The accuracy of an inferential model therefore depends on the statistical significance level chosen by the researcher, . In practice, this value is typically =0.05, or 5% however may be chosen to be more strict, such as =0.01, or 1%.
Inferential Statistical tests and models report a p-value associated with the probability of seeing such observed values in sample. Should the p-value equal less, the Null Hypothesis is rejected. Wherever your studies take you, we have an expert to help you accomplish your goals. Trust the experts at Homework Help Australia and get a quote now.