Significance of P-value in statistical data

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Hi!!

I want to know the significance of the P-value in the statistical data.

Can someone tell me in simple terms
Aug 7, 2018 in Data Analytics by darklord
• 6,140 points
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2 answers to this question.

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The P-value is used to determine the significance of results after a hypothesis test in statistics. 

So, basically, the P-value helps the readers to draw conclusions and is always between 0 and 1.

  •  P- Value > 0.05 denotes weak evidence against the null hypothesis which means the null hypothesis cannot be rejected.
  •  P-value <= 0.05 denotes strong evidence against the null hypothesis which means the null hypothesis can be rejected.
  •  P-value=0.05is the marginal value indicating it is possible to go either way.
answered Aug 7, 2018 by CodingByHeart77
• 3,680 points
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Refer the following points explaining the significance of p_value:

  • Deciding on a criterion for accepting or rejecting the null hypothesis
  • Refers to the percentage of sample means that is outside certain prescribed limits
  • Higher the level of significance, higher is the probability of rejecting the null hypothesis when it is true

for example: Consider testing a hypothesis at 5% level of significance:

  • Reject the null hypothesis if it falls in the two regions of area 0.025
  • Do not reject the null hypothesis if it falls within the region of area 0.95
answered Aug 10, 2018 by Atul
• 180 points

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