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P-value

Definition

The p-value is a probability value that helps determine whether an observed result is statistically significant or occurred by chance. It quantifies how strong or weak evidence against a null hypothesis exists.

Analogy

Think of p-values as tickets to an exclusive party. If your p-value is less than 0.05 (the typical threshold), it's like having a ticket to get into an elite party - you have strong evidence against your null hypothesis. But if your p-value is greater than 0.05, it's like having a ticket to an ordinary party - you don't have enough evidence to reject your null hypothesis.

Related terms

Type I Error: Type I error occurs when we reject a true null hypothesis, meaning we mistakenly conclude there is an effect or relationship when there isn't one.

Confidence Interval: A confidence interval provides a range within which we can reasonably estimate population parameters based on sample data.

Significance Level: The significance level, often denoted as alpha (α), is the threshold used to determine statistical significance. It helps decide whether to reject or fail to reject the null hypothesis.

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AP® and SAT® are trademarks registered by the College Board, which is not affiliated with, and does not endorse this website.