Significance Level
In statistics, the significance level is the probability of rejecting the null hypothesis when it is actually true. It is denoted by alpha (α) and is typically set at 0.05 or 0.01. The significance level determines the threshold for determining whether the results of a statistical analysis are statistically significant or not. If the p-value (the probability of obtaining the observed results or more extreme results assuming the null hypothesis is true) is less than the significance level, then the null hypothesis is rejected and the results are considered statistically significant. However, if the p-value is greater than the significance level, then the null hypothesis cannot be rejected and the results are not considered statistically significant.
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