09/13/2023

We learnt todays class all about p-value, Breusch-Pagan and Significance Test.

p-value : It is a statistical  hypothesis testing helps to observe test result by assuming null hypothesis.

p-value also known as Probability value. It lies in between 0 and 1. p-value has a level of significance 0.05

If p value < 0.05 is small p value which will rejects the null hypothesis and if p value > 0.05 is large p value which will accepts.

Significance test/Hypothesis testing: Used to test the hypothesis test as no statistical significance between variables provided. It helps in to analyze and make assumptions of population based on data

Null hypothesis has no difference between 2 variables and if it finds any difference intended to consider as alternate hypothesis.

Breusch-Pagan Test: It helps to check whether heteroscedasticity present in linear regression analysis. Heteroscedasticity is an error of non-constant variance.