Term: p-value

Glossary Definition

Last Updated: 2019-11-15


A p-value is a probability of obtaining a test statistic or estimate that is at least as extreme as the one observed, assuming that the null hypothesis is true. When the p-value is below the set significance value α (usually set at 0.05; it can also be set at 0.01) then the null hypothesis is rejected, and the obtained estimate or test statistic is statistically significant.

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