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A p-value of 0.01 would be highly significant, for example, much more so than 0.05 -- which, while still significant, is obviously a much less significant figure.
First, a little (we promise) statistics. At its very simplest, the p-value is what researchers use to assess the likelihood that, if a given result — the effect of a new medication, for example ...
In this short video, @damiangarde explains what p-value is, how it is used, and why it is still considered the gold standard for statistical significance in clinical trials.
Mingfeng Lin, Henry C. Lucas Jr., Galit Shmueli, Research Commentary: Too Big to Fail: Large Samples and the p-Value Problem, Information Systems Research, Vol. 24 ...
A mathematical ritual known as null hypothesis significance testing has led researchers astray since the 1950s.
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