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1. Excel p-value...8.27E-05...What Does it Mean?

I am rather new to regression analysis, but have always been a numbers guy when it comes to betting. I have ordered a couple books (yet to arrive) relating to this kind of analysis, and hope to incorporate it into my capping for next year. After messing around with Excel for a few days, I have been pretty happy with the results. However, tonight I sat down at the computer and ran one of my traditional average based formulas and for the DV P-value I recieved 8.27E-05. I am not familiar with this. Can somebody tell me what it means. E for Error? Is Excel not a proper tool for this kind of thing? Data entry error?

Thanks.

2. So I am well below the .05, and Null would be rejected? Thanks.

3. Originally Posted by Kaplan
So I am well below the .05, and Null would be rejected? Thanks.
You are correct. The short version of what wikipedia will tell you is that the "number" 8.27E-05 is the same as 0.0000827
You take the number 8.27 and move the decimal 5 places to the left. I could go on, but just remember if the you see a "-" move the decimal left, if you see a "+" move the decimal right.

4. If you're new to this, I'll warn you about independent variables. You might not be making this mistake, but it's quite common for new gambler to create some multi-variable regression where the variables are not independent. You end up with some garbage coefficients that will cost money in the long-run.