The notation alpha denotes the critical value level of signi

The notation alpha denotes the critical value level of significance null hypothesis threshold

Solution

Ans: Level of significance

In statistical hypothesis testing, statistical significance is achieved when a p-value is less than the level of significance (denoted , alpha). p-value is the probability of getting at least as extreme results given that the null hypothesis is true and the level of significance is the probability of rejecting the null hypothesis given that it is true. Similarly, when the null hypothesis specifies the value of a parameter, the data is statistically significant at the confidence level = 1 given when the calculated confidence interval for that parameter is not able to contain the value specified by the null hypothesis.