p-value Calculator | how to find p value
Aswehavementionedabove,thep-valueistheanswertothefollowingquestion:AssumingthatIliveinaworldwherethenullhypothesisholds,howprobableisitthat,foranothersample,thetestImperformingwillgenerateavalueatleastasextremeastheoneIobservedforthesampleIalreadyhave?Whatdoesthatmeanforyou?Well,youvegottwooptions:Ahighp-valuemeansthatyourdataishighlycompatiblewiththenullhypothesis;andAsmallp-valueprovidesevidenceagainstthenullhypothesis,asitmeansthatyourresultwouldbeveryimprobableifthenullhypothesisweretrue...
As we have mentioned above, the p-value is the answer to the following question:
Assuming that I live in a world where the null hypothesis holds, how probable is it that, for another sample, the test Im performing will generate a value at least as extreme as the one I observed for the sample I already have?
What does that mean for you? Well, youve got two options:
A high p-value means that your data is highly compatible with the null hypothesis; and A small p-value provides evidence against the null hypothesis, as it means that your result would be very improbable if the null hypothesis were true.However, it may happen that the null hypothesis is true, but your sample is highly unusual! For example, imagine we studied the effect of a new drug and got a p-value of 0.03. This means that in 3% of similar studies, random chance alone would still be able to produce the value of the test statistic that we obtained, or a value even more extreme, even if the drug had n...