p-value

Short for probability value.

p-value (plural p-values)

1. (statistics) In statistical significance testing, the probability of obtaining a test statistic at least as extreme as the one that was actually observed, assuming that the null hypothesis is true. ^[1]

   Synonyms: asymptotic significance, probability value

   • 2008, Ton J. Cleophas, A.H. Zwinderman, Toine F. Cleophas, Eugene P. Cleophas, Statistics Applied to Clinical Trials, Springer Science & Business Media, →ISBN, page 145:

     The larger the p-value the smaller the chance of a difference. A p-value of 1.00 means 0 % chance of a difference, while a p-value of 0.95 means a chance of difference close to 0. A p-value of > 0.95 literally means that we have > 95 per cent chance of finding a result less close to expectation, which means a chance of < (1-0.95) , i.e., < 0.05 of finding a result this close or closer. Using the traditional 5 per cent decision level, this would mean, that we have a strong argument that such […]

•   p-value on Wikipedia.Wikipedia

• Vaupel