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Eduncle Best Answer
The significance level for a given hypothesis test is a value for which a P-value less than or equal to is considered statistically significant. Typical values for are 0.1, 0.05, and 0.01. These values correspond to the probability of observing such an extreme value by chance. So the t-value to be significant means chances are 5 out of 100 that the difference between means has occurred due to sampling errors.