p-value

If the p-value of a coefficient is 0 it implies a 100 percent chance it is significantly diff from 0 and a p value of 1 implies it is not sig, diff from 0, correct?

Also can the p-value be compared directly to the t-stat to tell us anything. The p-value represents the lowest value we can still reject the null so if the t-stat is lower than p does that tell us we can reject the null as well?

Don’t try to compare the p-value to the t-statistic directly.

The most important things to remember about the p-value are:

  • if the p-value < alpha (significance level), you reject the null hypothesis (reject H0)
  • the smaller the p-value, the stronger the evidence AGAINST H0.