F-statistic: Understanding model significance using python

In statistics, a test of significance is a method of reaching a conclusion to either reject or accept certain claims based on the data. In the case of regression analysis, it is used to determine whether an independent variable is significant in explaining the variance of the dependent variable. Since here we have only one predictor a T-test should be enough. However, in reality, our model is going to include a number of independent variables. This is where F-statistic comes into play.