p-Value


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p-Value - short version

Common method for determining if one population is different from another. Typically, a p-Value of less than 0.05 indicates statistically different populations.



p-Value - long version

The p-value is the probability of obtaining a test statistic at least as extreme as the one that was actually observed, assuming that the null hypothesis is true. One often "rejects the null hypothesis" when the p-value is less than the significance level α (Greek alpha), which is often 0.05 or 0.01. When the null hypothesis is rejected, the result is said to be statistically significant.



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