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in the statsmodels summary, what does the P>|t| and t mean in relation to the variables when it says something like:
coef std err t P>|t| [95.0% Conf. Int.]
Intercept 7.0326 0.458 15.360 0.000 6.130 7.935
TV 0.0475 0.003 17.668 0.000 0.042 0.053
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t is the value of the t-statistic for testing if the corresponding coefficient is different from 0. ( Hypothesis H0: coef==0, H1: coef!=0) Pr>|t| is the p-value for this hypothesis test. A low p-value means, that you can reject the null-hypothesis and accept the alternative hypothesis (coef!=
While scikit-learn is slightly faster than statsmodels for 1,000 or less observations, this difference is not significant per the t-test analysis. Sci-kit learn is significantly faster for datasets with more than 1,000 observations.
The OLS() function of the statsmodels. api module is used to perform OLS regression. It returns an OLS object. Then fit() method is called on this object for fitting the regression line to the data.
t is the value of the t-statistic for testing if the corresponding coefficient is different from 0. (Hypothesis H0: coef==0, H1: coef!=0)
Pr>|t| is the p-value for this hypothesis test. A low p-value means, that you can reject the null-hypothesis and accept the alternative hypothesis (coef!=0).
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