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What is P value

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  • October 20, 2003 at 3:28 pm #33633

    S
    ★ 10 Years ★
    Participant

    Hi all,
    We use P value to analyse our data throughout the measure phase.  If P>0.05 accept the data.  But what is the significance of this p value.  I know that it is related to 95% confidence interval,  but am not able to find a clear definition of this. 
    Please let me know if any of you can clear this to me with some good example.
     
    thanks a lot.
    prakash.

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    October 20, 2003 at 4:04 pm #91247

    Ron
    ★ 10 Years ★
    Member

    a P value is the product of the software age versus the statistical calulation methods long withstanding such as F score or T score.
    Put simply the P value represents the probablitity the the results viewed are a matter of chance versus actual meaning. The higher the value the more opportunity chance is a factor.  0.05 is an arbitrary norm utilied. This means that we accept the fact that there is a 5% chance that the results are simply dumb luck and not really meaningful.
     

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    October 21, 2003 at 2:17 am #91280

    Schultz
    ★ 10 Years ★
    Participant

    https://www.isixsigma.com/dictionary/P_Value-153.htm
     

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