The calculator tool used to calculate the critical value of the given statistical values is called a Critical value calculator. The critical value is written as z- score or t-score for a given sample. Critical value is used to determine the boundaries and margin of error for a given sample.
Example 1: Calculate the critical value for the given alpha value = 0.02?
For the given alpha value first calculate (1- alpha value) = 1- 0.02 = 0.98
Now the next step is to calculate (1- alpha value)/ 2 = 0.98 / 2 = 0.49
So now z critical value is determined by looking into the z score table.
The corresponding value for 0.49 from the z score table is -2.0537.
Hence the critical value for alpha = 0.02 is -2.0537.
Example 2: Calculate the critical value for the given alpha value = 0.6?
For the given alpha value first calculate (1- alpha value) = 1- 0.6 = 0.4
Now the next step is to calculate (1- alpha value)/ 2 = 0.4 / 2 = 0.2
So now z critical value is determined by looking into the z score table.
The corresponding value for 0.2 from the z score table is 0.2533.
Hence the critical value for alpha = 0.6 is 0.2533.