I am having issues understanding what exactly the p value represents in multiple regression analysis.
I understand that a higher p value means that independent variables are not statistically significant and vice versa, however, where exactly does the p value come from and what does it mean?
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the p value is the probability to observe a value (either positive or negative) that's larger than the t-statistic. The p-value represents the lowest significance level that we would reject the null hypothesis. Basically, if you have a P-value of .05, than you would reject the null if you were using a significance level of 5.001% or higher.
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Thanks
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