Term Significance

Term significance is defined as the probability that the term coefficient is zero. In other words, that the term does not affect the response. The term significance is computed from the term T-value.

For instance, let the T-value in a T-test for a term in a model be 11.0. Significance then gives us the probability of the T-value being as high as 11.0 under the assumption that the true value of the coefficient for that term is zero. To identify terms that have a significant effect on the regression, look for low significance values.