Can someone please explain the concept of p value in plain english. thanks
The p-value is the SMALLEST level of significance for which the null hypothesis can be rejected. So if your p-value is LESS than the significance level selected, then null can be rejected Conversely, if the p-value is GREATER than the significant level, then the null cannot be rejected.
Good job mwvt9. @epoh You calculate p by looking which probality is related with your test statistic. For example: Your test statistic is z=2,58 and you are performing a one tailed test (right side of distribution) on this area. Than you would get a probality of 99.5 %=1-alpha --> alpha=p-value=0.5 % Easy, isn’t it?