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α
Typically used to denote the level of significance in hypothesis testing, representing the probability of rejecting a true null hypothesis or the threshold of rareness.
β
Often used to represent the slope coefficient in linear regression analysis, indicating the change in the dependent variable for a one-unit change in an independent variable.
Probability
The measure of the likelihood that a particular event will occur, expressed as a number between 0 and 1, where 0 indicates impossibility and 1 indicates certainty.
Critical Value
A threshold in hypothesis testing, which the test statistic must exceed in order to reject the null hypothesis, indicating a statistically significant result.
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