statsmodels is a Python library designed for statistical modeling and hypothesis testing. It provides tools for estimating various statistical models, including linear regression, generalized linear models, and time series analysis. The library is built on top of NumPy and Pandas, making it easy to integrate with data manipulation and analysis workflows. One of the key features of statsmodels is its ability to perform statistical tests and provide detailed summaries of model results. Users can access diagnostic tools, visualize data, and interpret the significance of their findings, making it a valuable resource for researchers and data analysts in various fields.