In null-hypothesis significance testing, the p-value is the probability of obtaining test results at least as extreme as the result actually observed, under the assumption that the null hypothesis is correct. A very small p-value means that such an...
P-values are often used or interpreted incorrectly; the American Statistical Association states that p-values can indicate how incompatible the data are with a specified statistical model. From a Neyman–Pearson hypothesis testing approach to...
In statistics, a generalized p-value is an extended version of the classical p-value, which except in a limited number of applications, provides only approximate solutions. Conventional statistical methods do not provide exact solutions to many...
In statistical hypothesis testing, e-values quantify the evidence in the data against a null hypothesis (e.g., "the coin is fair", "this new treatment has no effect"). They serve as a more robust alternative to p-values, addressing some of its...
The harmonic mean p-value (HMP) is a statistical technique for addressing the multiple comparisons problem that controls the strong-sense family-wise error rate (this claim has been disputed). It improves on the power of Bonferroni correction by...
Data dredging, also known as data snooping or p-hacking, is the misuse of data analysis to find patterns in data that can be presented as statistically significant, thus dramatically increasing and understating the risk of false positives. This is...
In statistical hypothesis testing, specifically multiple hypothesis testing, the q-value in the Storey procedure provides a means to estimate the positive false discovery rate (pFDR). Just as the p-value gives the expected false positive rate...
In economics, economic value or simply value is a measure of the benefit provided by a good or service to an economic agent. Value for money represents an assessment of whether financial or other resources are being used effectively in order to...
Fisher's exact test (also the Fisher–Irwin test) is a statistical significance test used in the analysis of contingency tables. Although in practice it is employed when sample sizes are small, it is valid for all sample sizes. The test assumes that...
In Bayesian statistics, the probability of direction (pd) is a measure of effect existence representing the certainty with which an effect is positive or negative. This index is numerically similar to the frequentist p-value.