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 val ...
