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 |
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).