# Quick Answer: What Does P Value Of 0.02 Mean?

## What does P value of 0.2 mean?

If p-value = 0.2, there is a 20% chance that the null hypothesis is correct?.

P-value = 0.02 means that the probability of a type I error is 2%‏.

P-value is a statistical index and has its own strengths and weaknesses, which should be considered to avoid its misuse and misinterpretation(12)..

## What does p value 0.05 mean?

statistically significant test resultP > 0.05 is the probability that the null hypothesis is true. … A statistically significant test result (P ≤ 0.05) means that the test hypothesis is false or should be rejected. A P value greater than 0.05 means that no effect was observed.

## What does P value of .001 mean?

In economics and most of the social sciences what a p-value of . 001 really means is that assuming everything else in the model is correctly specified the probability that such a result could have happened by chance is only 0.1%. … A highly statistically significant result does not tell you that a result is robust.

## What does P value tell you?

When you perform a hypothesis test in statistics, a p-value helps you determine the significance of your results. … The p-value is a number between 0 and 1 and interpreted in the following way: A small p-value (typically ≤ 0.05) indicates strong evidence against the null hypothesis, so you reject the null hypothesis.

## What if P value is 0?

In hypothesis testing, if the p-value is near 0 it means that you should reject the null hypothesis (H0)

## Why do we use 0.05 level of significance?

For example, a significance level of 0.05 indicates a 5% risk of concluding that a difference exists when there is no actual difference. Lower significance levels indicate that you require stronger evidence before you will reject the null hypothesis.

## What does a really low P value mean?

A small p-value (typically ≤ 0.05) indicates strong evidence against the null hypothesis, so you reject the null hypothesis. A large p-value (> 0.05) indicates weak evidence against the null hypothesis, so you fail to reject the null hypothesis.

## What does 0.01 p value mean?

The p-value is a measure of how much evidence we have against the null hypothesis. The most important thing to remember about the p-value is that it is used to test hypotheses. … A p-value less than 0.01 will under normal circumstances mean that there is substantial evidence against the null hypothesis.

## What does P value signify?

When you perform a statistical test a p-value helps you determine the significance of your results in relation to the null hypothesis. The null hypothesis states that there is no relationship between the two variables being studied (one variable does not affect the other).

## Can P values be greater than 1?

A p-value tells you the probability of having a result that is equal to or greater than the result you achieved under your specific hypothesis. … A p-value higher than one would mean a probability greater than 100% and this can’t occur.

## Is P value of 0.02 Significant?

Let us consider that the appropriate statistical test is applied and the P-value obtained is 0.02. Conventionally, the P-value for statistical significance is defined as P < 0.05. ... Many published statistical analyses quote P-values as ≥0.05 (not significant), <0.05 (significant), <0.01 (highly significant) etc.

## Is P value of 0.01 Significant?

The significance level for a given hypothesis test is a value for which a P-value less than or equal to is considered statistically significant. Typical values for are 0.1, 0.05, and 0.01. These values correspond to the probability of observing such an extreme value by chance.

## Does P value depend on sample size?

The p-values is affected by the sample size. Larger the sample size, smaller is the p-values. … Increasing the sample size will tend to result in a smaller P-value only if the null hypothesis is false.

## What does P value of 0.03 mean?

The level of statistical significance is often expressed as the so-called p-value. … So, you might get a p-value such as 0.03 (i.e., p = . 03). This means that there is a 3% chance of finding a difference as large as (or larger than) the one in your study given that the null hypothesis is true.

## Is P value of 0.07 Significant?

at the margin of statistical significance (p<0.07) close to being statistically signiﬁcant (p=0.055) ... only slightly non-significant (p=0.0738) provisionally significant (p=0.073)