P-values, levels of significance

CFA Level II
#1

Are there general levels when p- values are considered not significant, < .01?

#2

Compare it to the level of significance you are testing against.

#3

if P < level of significance ex: P = 0.02 vs level of significance 95% (0.05) then the value is good

#4

be careful, level of significance is alpha, which is typically 1, 5, or 10 percent… but don’t refer it to 95%… thats not the level of significance…1-95% is though

#5

So a lower p value means there’s a better chance of it being significant, all else equal?

#6

Lower P means more likely to get reject. Guys with small P’s always get rejected.

#7

if P = .05 it means you can say its true with 95% confidence So if P