Question

What is the relation between level of significance and level of confidence?

Answer 1

The relationship between them is that, level of significance + level of confidence = 1. For example, if the confidence level is 95%, then significance level is 5%.

The confidence level tells you how sure you can be. It is expressed as a percentage and represents how often the true percentage of the population who would pick an answer lies within the confidence interval. The null hypothesis is rejected if the p-value is less than a predetermined level, ?. ? is called the significance level and is the probability of rejecting the null hypothesis given that it is true.