Minitab versus excel9/27/2023 A significance level of 0.05 indicates a 5% risk of concluding that an association exists when there is no actual association. Usually, a significance level (denoted as α or alpha) of 0.05 works well. The null hypothesis is that the term's coefficient is equal to zero, which indicates that there is no association between the term and the response. To determine whether the association between the response and each term in the model is statistically significant, compare the p-value for the term to your significance level to assess the null hypothesis.
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