12/14/2023 0 Comments How to avoid data dredgingTherefore, if we get our P-value less than that alpha, that would mean that our statistical test didn’t occur by chance and it was indeed significant. P-values are defined as the probability of getting the outcome as rare as that alpha or even rarer. A common value for it is 0.05, which can be thought of as a probability. While performing Statistical tests, a threshold value or the alpha needs to be set prior to starting the test. It measures how correct your sample data are with the null hypothesis. P-values evaluate how well the sample data supports that the null hypothesis is true. Earn Executive PG Programs, Advanced Certificate Programs, or Masters Programs to fast-track your career Learn data science courses online from the World’s top Universities. Beware of P-Hacking!īy the end of this tutorial you will have the knowledge of below: Interpreting P-Value can be tricky and you might be doing it wrong. One of the most important concepts in statistics is Hypothesis Testing and P-Values. Statistical Analysis is an essential part of Data Science and analysis.
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