Question

what is the formal conclusion of the Wald HT for Model Utility? If we rejected the null hypothesis.

Answer 1

Answers:

what is the wald test:

The Wald test (also called the Wald Chi-Squared Test) is a way to find out if explanatory variables in a model are significant. “Significant” means that they add something to the model; variables that add nothing can be deleted without affecting the model in any meaningful way.

Interpretation of Null Hypothesis:

The null hypothesis for the test is some parameter = some value. For example, you might be studying if weight is affected by eating junk food twice a week. “Weight” would be your parameter. The value could be zero (indicating that you don’t think weight is affected by eating junk food). If the null hypothesis is rejected, it suggests that the variables in question can be removed without much harm to the model fit.