What are some alternatives to p-values in statistical analysis?

What are some alternatives to p-values in statistical analysis?

There are several alternatives to p-values, including confidence intervals, effect sizes, Bayesian methods, and likelihood ratios.

Can you explain how confidence intervals work?

Sure! A confidence interval provides a range of values that is likely to contain the true parameter of interest, giving an estimate of uncertainty.

What about Bayesian methods? How do they differ from traditional methods?

Bayesian methods incorporate prior beliefs and update them with new data, allowing for a more flexible interpretation of evidence compared to traditional frequentist methods.

Are there any specific situations where these alternatives are preferred?

Yes, alternatives like Bayesian methods are often preferred in situations with small sample sizes or when prior information is available.