What is a hypothesis test? How is the statistical significance of an insight determined?
The statistical significance of an experiment's insights can be assessed using hypothesis testing. Hypothesis testing examines the probability of a given experiment's results occurring by chance. The null hypothesis is defined first, and then p-values are computed. If the null hypothesis is true, other values are determined as well. As its name suggests, the alpha value indicates the degree of significance.
In a two-tailed test, the p-value is less than alpha if the null hypothesis is rejected but is greater than alpha if the null hypothesis is accepted. In a one-tailed test, the p-value is less than alpha if the null hypothesis is accepted but is greater than alpha if the null hypothesis is rejected. The rejection of the null hypothesis indicates that the results obtained are statistically significant.
