The critical value serves as a boundary that defines a specific range where the test statistic acquired during hypothesis testing, is improbable to lie within. The critical value is a benchmark against which the obtained test statistic is compared during hypothesis testing. This comparison helps in deciding whether to reject the null hypothesis or not. On a graph, the critical value explains the boundary between the acceptance and rejection areas in hypothesis testing. It aids in judging the statistical importance or significance of a test statistic. This article will explain the following basics of critical value: What is the critical value? Types of Critical Value. How to Calculate Critical Value? Examples of Critical Value. Summary. What is Critical Value? A critical value is a specific ...