- The p-value is the probability value which is used to determine the statistical significance in a hypothesis test.
- Hypothesis tests are used to check the validity of the null hypothesis (claim).
- P-values can be calculated using p-value tables or statistical software.
- The p-values lies between 0 and 1. It can have mainly two cases:
- (p-value<0.05): A small p-value indicates strong evidence against the null hypothesis, so we can reject the null hypothesis.
- (p-value>0.05): A large p-value indicates weak evidence against the null hypothesis, so we consider the null hypothesis as true.
