If you got a P-Value of anything less than 0.05 in our case, then you can safely say that the null hypothesis can be rejected. So, if our P-Value comes, say, 0.04, we say we reject the Null Hypothesis.Ī low P value suggests that your sample provides enough evidence that you can reject the null hypothesis for the entire population. Therefore, if we get our P-value less than that alpha, that would mean that our statistical test didn’t occur by chance and it was indeed significant. P-values are defined as the probability of getting the outcome as rare as that alpha or even rarer.
A common value for it is 0.05, which can be thought of as a probability. While performing Statistical tests, a threshold value or the alpha needs to be set prior to starting the test. It measures how correct your sample data are with the null hypothesis. P-values evaluate how well the sample data supports that the null hypothesis is true. Earn Executive PG Programs, Advanced Certificate Programs, or Masters Programs to fast-track your career Learn data science courses online from the World’s top Universities. Beware of P-Hacking!īy the end of this tutorial you will have the knowledge of below: Interpreting P-Value can be tricky and you might be doing it wrong. One of the most important concepts in statistics is Hypothesis Testing and P-Values. Statistical Analysis is an essential part of Data Science and analysis.
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