Meaning of Difference in P Value

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    I was doing a minitab calculation on baselining. I encountered a p value which is supposed to be or =.05 , but it was showing the value of <.005 .

    My question is p value is always considered as .05 whenever we do a hypothesis test, how come suddenly it was reflecting with .005 .

    I request to all legends , help me to understand this. if you need any example please provide the email id , so that I can send this.



    @krushna – like @rbutler, I assume you are using Minitab. I don’t remember any tests that ask for a p value, if anything you might enter a confidence level (which is 1-p).

    That said, Robert is absolutely correct. There is nothing sacred about 0.05 and in many instances that is not sufficient (and in others might actually be over sensitive). Usually, you decide the p-value you want to use ahead of the test (how confident do you want to be) and then use that value with discipline. If you don’t, then you really didn’t have the right confidence level specified in the first place.

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