we performed a regression analysis for 10 yrs and one of our independent variables showed a very low p-value which is around 2.4E-26. Our confidence level is 0.95. Since 0.05 %26gt; 2.4E-26, we accept the independent variable. But is 2.4E-26 possible and that it is right?
Statistics- multiple regression with a very low p value?opera.com
It would indicate that ur variable (that with the low p) is highlly correlated with your dependant variable. In fact all changes in ur study variable are explained by the low p value variable.
Statistics- multiple regression with a very low p value?amc theatre opera theater
In theory, any number between 0 and 1 is possible for a p-value. However, for practical reasons most p-values are expressed as "%26lt;0.0001" if they are very small. This indicates that this particular independent variable is strongly predictive of the dependent variable. You should look at various diagnostic plots and statistics as well as lean on your expertise in this area to determine if including this variable in your model makes sense.
Math (and Stats) Rule!
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