
105Exploratory Analysis and Introduction to Inferential Statistics
4.3.2 p-value
Furthermore, we can calculate the p-value or probability that the measured outcome would occur.
Thus, the p-value is the value at which the H0 can be rejected given the result of the experiment.
SeeDavis (2002) and Qian (2010). Using the p-value there is no need to establish a signicance level
a priori but just judge the magnitude of the p-value. If we believe the p-value is small enough, then
we can reject the null. Of course, the issue is how small the p-value should be for us to reject the null.
It has become popular to mix the p-value and signicance level approaches ...