Why would a t stat of 8.617 and a p value of 0.000000 mean the coefficient is statistically significant?
your p value= 0 which is less than 0.05 (lowest level of significance at which you can reject the null hypothesis) then your test is significant and you can reject the null hypothesis
How did a t-stat of 8.617 imply 0.05 significance? No such data was provided in the question.
What is the significance level given in the example? (usually it is5%) conceptually you don’t have to bother because your p value is 0 so even if it is 1% your p value is still lower than it
Oh so a p value of 0 in a way means that no matter what the confidence level, the coefficient is always significant…
Yes and in the exam if it show up i would test it against the significance level given ( assuming .05 if none given)
I would thinking of it that no matter what the alpha (significance level) instead of confidence level