Significance Test

Definition

A significance test is a statistical method used to determine whether an observed result is statistically significant or simply due to chance. It involves comparing sample data with what would be expected under the null hypothesis.

Related terms

P-value: The p-value represents the probability of obtaining results as extreme as those observed, assuming the null hypothesis is true.

Confidence Interval: A confidence interval provides a range of values within which we can be confident (at a certain level) that the population parameter lies.

One-sample t-test: A one-sample t-test compares the mean of a single sample with a known population mean.