What are p-values and why are they important in statistics?
P-values help determine the significance of results in hypothesis testing. A low p-value indicates strong evidence against the null hypothesis.
How do you calculate a p-value?
P-values are calculated based on the test statistic and the distribution of the data. It often involves statistical software or tables.
What does a p-value of 0.05 mean?
A p-value of 0.05 suggests that there is a 5% chance of observing the data, or something more extreme, if the null hypothesis is true.
Can p-values be misleading?
Yes, p-values can be misleading if misinterpreted. They do not measure the size of an effect or the importance of a result.
What are some common misconceptions about p-values?
Common misconceptions include thinking a p-value indicates the probability that the null hypothesis is true or that a p-value below 0.05 is always significant.
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